Revolut is entering the stablecoin market by offering 1:1 fiat conversion on US dollar stablecoin trades at no cost.
For every US dollar, users can convert it in-app for exactly 1 USDC (issued by Circle) or USDT (Tether). Leonid Bashlykov, head of product for crypto at Revolut, explains the pricing structure: “Every time I go on-chain, I struggle with the same thing: you never actually get 1:1 when moving between fiat and stablecoins. There’s always that annoying 0.0002 spread, or a hidden fee somewhere. $1.00 should actually mean $1.00.”
This initiative allows users to transfer their stablecoins across various blockchain networks, link their balances to their Visa and MasterCard for day-to-day spending, and secure withdrawals with biometric protection. Bashlykov emphasizes, “I honestly believe the biggest breakthroughs in crypto won’t come from yet another complex DeFi protocol. They’ll come from fixing what’s still broken — things that should’ve been simple years ago: On/off-ramps; handling balances across multiple chains; and simplicity & transparency.”