fintech
Neobank Revolut has announced a major update for its crypto customers, introducing a direct 1:1 exchange between the US dollar and major stablecoins with no fees, spreads or rate differences.
This feature allows users to exchange up to approximately $578,000 every 30 days, providing a new level of convenience when moving funds between traditional financial and blockchain ecosystems.
Leonid Vasilikov, Head of Cryptocurrency Products at Revolut, said: said This move will end friction in transferring money from fiat to cryptocurrencies. “This is not about improving the exchange rate, it’s about making the process seamless,” he explained, noting that as long as the stablecoin remains pegged, Revolut will cover internal spreads to maintain an accurate $1-to-$1 rate.
This new feature supports both Circle’s USDC and Tether’s USDT across six major networks including Ethereum, Solana, and Tron. This follows Revolut’s recent acquisition of the Market in Cryptocurrency (MiCA) license from the Cyprus Securities and Exchange Commission, authorizing it to provide regulated cryptocurrency services across 30 countries in the European Economic Area.
Expanding access to cryptocurrencies across Europe
Revolut’s crypto division has expanded rapidly in recent years. In 2024, the London-based neobank held nearly $35 billion in client assets, a 66% increase year-over-year, and saw a significant increase in trading volumes. The company has been offering cryptocurrency trading since 2017 and currently lists over 200 digital assets, as well as the option for users to make everyday payments directly in cryptocurrencies.
The 1:1 functionality could give Revolut an edge among European fintech companies competing to offer faster and cheaper cross-border transactions, as the MiCA framework begins to standardize digital asset regulation across the EU. Revolut positions itself as one of the first global neobanks to make stablecoins functionally equivalent to fiat currencies within a single financial app by offering conversion at true equivalence.
A potential lifeline for your business in a volatile market
Industry insiders say the update could be transformative for global business. Elbruz Yilmaz, Managing Partner of Outrun, commented that SMEs, especially in markets like Turkey, stand to benefit the most. “A clean 1:1 ramp transforms stablecoins from speculative tokens into working capital infrastructure,” he said, emphasizing the reduction of exchange losses and faster treasury operations.
Vasilikov echoed similar sentiments, adding that Revolut aims to eliminate the “pain” of continuing on-chain and off-chain. This is a challenge that has historically slowed adoption into everyday business use cases.
Stablecoin competition intensifies
Revolut’s entry into direct stablecoin conversion comes amid increasing competition from traditional payment giants exploring blockchain payments. Western Union recently revealed plans to launch its own stablecoin system on Solana in the first half of 2026. The system will be built around the upcoming USD Payment Token (USDPT) and digital asset network infrastructure.
Other major payment platforms are following suit. Zelle’s parent company announced it will issue a stablecoin for faster cross-border payments, while MoneyGram is piloting a USDC wallet in Colombia, expanding the reach of cryptocurrencies in Latin America. Meanwhile, SWIFT is developing its own blockchain-based payments network that will connect banks and institutions through tokenized asset transfers.
Bridging traditional finance and blockchain
Revolut’s latest move highlights how quickly the lines between fintech and crypto finance are blurring, putting the company at the forefront of mainstream stablecoin adoption. As more global companies adopt blockchain for payments, Revolut’s one-to-one system could set a new standard for how digital money moves between banks, businesses and consumers.
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