Fintech

Revolut takes on Tether and Circle with stablecoin launch

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UK fintech Revolut has a series of crypto-friendly products Nikolas Kokovlis/NurPhoto via Getty Images
UK fintech Revolut has a series of crypto-friendly products Nikolas Kokovlis/NurPhoto via Getty Images Photo: NurPhoto via Getty Images

Revolut is planning a stablecoin launch to compete in a market that is dominated by Tether and Circle.

The stablecoin launch will not be Revolut’s first foray into the world of crypto. The firm announced the launch of a dedicated crypto exchange Revolut X in May. Revolut also started offering virtual crypto payment cards in August to help users pay through digital assets.

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