Revolut reportedly exploring launch of its own stablecoin

According to decrypt.co, discussions have reportedly taken place with at least one firm operating in the cryptocurrency sector, although the neobank has not officially confirmed the plans. 

The reported move comes as a number of major companies, both within and outside the financial sector, consider entering the stablecoin space in the context of evolving regulatory conditions. Momentum for digital currencies tied to fiat value has grown following recent legislative developments in the United States, including the passage of the GENIUS Act by the Senate. The bipartisan bill, which seeks to create a legal framework for stablecoin issuance, is now being reviewed by the House of Representatives and may be signed into law by August 2025.

Stablecoin interest beyond crypto-natives

Financial institutions and large corporations are increasingly assessing how stablecoins might improve payment systems. These tokens are typically pegged to the US dollar and backed by reserve assets, offering faster settlement and lower transaction fees. They also provide opportunities for issuers to generate returns on collateral reserves. 

Companies such as Circle and Tether currently dominate the USD 251 billion stablecoin market, but that landscape could shift. Traditional financial institutions, including Bank of America, JP Morgan, Citigroup, and Wells Fargo, have all expressed interest in launching their own digital dollar equivalents should regulatory clarity be achieved. The Wall Street Journal recently reported that multinational firms in sectors such as retail and travel are considering similar moves. 

Revolut, headquartered in London, entered the cryptocurrency exchange space with the launch of Revolut X in 2024, offering crypto trading services across the European Union. The development of a proprietary stablecoin would expand that presence, although no formal timeline or product details have been made public. 

Some lawmakers have raised concerns about the increasing involvement of large corporations in digital asset issuance. In particular, opponents have cited risks related to data privacy and market competition. A US senator, responding to reports of stablecoin plans from companies such as Amazon and Walmart, warned that such efforts could allow corporations to track consumer behaviour while pushing smaller players to the side.