Nikolay Storonsky’s British fintech company Revolut is considering launching a stablecoin if the position of Tether, the issuer of the USDT stablecoin, weakens due to tighter market regulation in Europe and other regions. This was reported by Bloomberg citing sources.
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The agency’s interlocutors pointed out that the Robinhood broker has the same plans, although both companies may abandon the initiative. At the moment, the stablecoin market has reached $170 billion, of which $119 billion is USDT, let alone others.
A Robinhood spokesperson told Bloomberg that the company has no immediate plans to issue a stablecoin. Revolut told the agency that the fintech startup will further develop its range of cryptocurrency products, but did not confirm the launch of a stablecoin.
In May 2024, Revolut launched its own crypto exchange, Revolut X. It is aimed at professional traders and is available to all retail investors.
In June, Robinhood announced its intention to purchase the Bitstamp cryptocurrency exchange. The deal is expected to be worth around $200 million and should close in the first half of 2025.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
