Revolut Enables Zero-Fee Stablecoin Swaps for 65 Million Users

Revolut has announced the removal of fees and spreads for stablecoin conversions, allowing its 65 million users to swap USDT and USDC without any cost. This strategic move enables users to convert up to €500,000 every 30 days at a precise 1:1 rate, according to CryptoNews. The decision aligns with Revolut’s long-standing approach to transparent foreign exchange, which has been a hallmark of its digital banking services.

Seamless Blockchain Transfers

Revolut’s new feature supports transactions across six major blockchain networks, including Ethereum, Solana, and Tron. This development eliminates typical markups imposed by exchanges, providing a seamless on-ramp and off-ramp for users engaged in crypto-to-fiat conversions. Leonid Bashlykov, Head of Product Crypto at Revolut, highlighted on LinkedIn that users will receive exactly $1.00 in stablecoins for every $1.00 in cash.

Revenue Growth Driven by Crypto Trading

The removal of fees comes as Revolut reports a 298% surge in revenue from its wealth division, which includes cryptocurrency trading. In 2024, the division generated £506 million, buoyed by the launch of Revolut X, a platform catering to professional traders. Offering over 100 tokens with competitive fees, Revolut X has positioned itself as a formidable challenger to established crypto exchanges.

The platform’s expansion to 30 European countries in late 2024 has equipped users with real-time trading tools and advanced analytics, contributing to Revolut’s impressive financial performance. The company reported over £1.1 billion in net earnings for 2024, marking a 149% increase from the previous year.

Strategic Partnerships and Platform Enhancements

Revolut has been active in forming strategic partnerships to enhance its crypto offerings. In March 2024, it launched Revolut Ramp in collaboration with MetaMask developer Consensys, allowing seamless crypto purchases in Web3 wallets. Additionally, a partnership with Ledger in August facilitated cryptocurrency purchases through Revolut accounts in several European countries.

Advanced security measures, including cold storage and risk monitoring tools, ensure the safety of customer funds, while educational tools aim to boost crypto literacy among new users.

Regulatory Advances and Global Ambitions

On the regulatory front, Revolut Digital Assets Europe Ltd achieved Crypto Asset Service Provider registration in Spain and the Netherlands, working toward full MiCA compliance across the EU. The firm is also pursuing banking licenses in multiple countries and plans to invest over €1 billion in France by 2028.

Despite regulatory challenges in the United States, Revolut continues its global expansion, with plans to acquire a US bank to expedite market entry. The company is also exploring a dual listing in London and New York, further solidifying its position as a major player in the financial technology sector.

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