Key Takeaways:
Revolut will offer stablecoins through its planned US bank, pairing digital assets with FDIC-insured accounts for the first time.
Revolut plans to offer stablecoins through its future US bank, expected to launch in 2027, alongside FDIC-insured accounts, stock trading and cryptocurrency services, US CEO Cetin Duransoy said.
"Customers will have access to FDIC-insured accounts, multi-currency deposits, stock trading and cryptocurrency services," Duransoy said in an interview with Reuters.
The London-based fintech applied for a US national bank charter in March, shifting from an earlier strategy of acquiring an existing US lender. The bank will be headquartered in Stamford, Connecticut, with an office in New York and no physical branches. Revolut will initially target retail and business customers managing multiple currencies, including dollars, rupees and Latin American currencies.
The move comes as the stablecoin market has grown to about $319.5 billion, up from roughly $247 billion a year ago, according to DefiLlama data. Revolut's integration of stablecoins with federally insured deposits could accelerate mainstream adoption by offering a familiar safety net for customers hesitant to hold digital assets on standalone platforms.
FDIC Coverage Meets Digital Assets
Revolut's plan combines two traditionally separate product categories under one platform. Customers could move between federally protected deposits and stablecoins without switching apps or providers. The company has not disclosed which stablecoin or stablecoins it will support, nor has it named any issuer partnerships. Specific product details, including fees and limits, remain pending regulatory feedback, Duransoy said.
The approach mirrors a broader push by fintech and digital asset companies to obtain federal banking approvals. Nubank and Crypto.com received conditional approval to establish national banks this year, while Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos secured similar approvals from the Office of the Comptroller of the Currency in late 2025.
Stablecoin Competition Heats Up
Revolut enters a crowded and fast-growing market. SoFi launched SoFiUSD in December, a dollar-backed token on Ethereum and Solana. MoneyGram introduced MGUSD this week through Stripe's stablecoin platform Bridge, integrating the Stellar-based token into its app for remittances. Falcon Finance launched fUSD last week through Anchorage Digital's regulated issuance platform, backed by cash and short-term US government securities.
Revolut serves about 75 million customers globally, including roughly 1 million in the US. The company reported 4.5 billion pounds ($6 billion) in revenue and 1.3 billion pounds ($1.75 billion) in net profit last year. It was valued at $75 billion in its latest funding round and has said it does not plan an initial public offering before 2028.
Outside the US, Revolut already allows customers to use their bank cards to make payments with USDT and USDC stablecoins. The US bank charter would extend that capability to a federally regulated banking product, pending approval from US authorities.
This article is for informational purposes only and does not constitute investment advice.
