According to Coindesk, financial technology giant Revolut is preparing to launch its own stablecoin.
Two people familiar with the matter said Revolut is well on its way to launching its own stablecoin.
With its stablecoin move, Revolut will join other companies entering the stablecoin space, such as PayPal, Ripple, and BitGo.
A Revolut spokesperson did not directly respond to questions about the stablecoin issue, saying the company is looking to expand its crypto offerings and adopt a compliance-first approach in order to be a safe haven for the entire crypto community.
“Crypto is a big part of our belief in banking without borders, and we have a clear mission to be the safest and most accessible provider of crypto asset services.”
USDC ranks second in the stablecoin sector dominated by Tether (USDT).
*This is not investment advice.