📢 Revolut plans to launch its own stablecoin

📢 Revolut plans to launch its own stablecoin

The British-Lithuanian 🇬🇧🇱🇹 digital bank has been offering cryptocurrency trading in its app for several years, and in May, it launched an exchange platform aimed at experienced traders. Now, the company has announced its intention to expand its cryptocurrency services.

➡️ EU regulatory requirements: MiCA is designed to increase oversight of crypto assets, including stablecoins. To comply with these new regulations, Revolut will need to meet all the specified requirements, which could delay product launches or raise operational costs. However, from a user security standpoint, the approach is quite promising.

➡️ The launch date for the stablecoin has not yet been announced.

➡️ Interesting fact: The current stablecoin market leader is USDT from Tether, with a market capitalization close to 119 billion USD. It's followed by USDC from Circle, whose market share is about three times smaller. PayPal entered the market in 2023, and companies like Ripple and BitGo have also announced plans to launch their own stablecoins.

#news #crypto #Europe

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