Revolut 1:1 USD to Stablecoin Launch: No Fees or Spreads
Background: Revolut Rolls Out Fee-Free USD to Stablecoin Exchanges
Neobank Revolut has announced a new feature allowing its 65 million users to convert US dollars to stablecoins at a 1:1 rate, with no fees or spreads. The offer applies to exchanges between USD and stablecoins USDC or USDT, up to a transaction cap of $578,630 every 30 rolling days per user. Reporting via Cointelegraph.
According to Revolut’s head of product in crypto, Leonid Bashlykov, the feature is aimed at making conversions between fiat and crypto seamless. Bashlykov stated, “Today marks the day we remove all anxiety and friction of moving between fiat and crypto,” via a LinkedIn post on Thursday.
The new 1:1 exchange capability covers stablecoins on six supported blockchains, including Ethereum, Solana, and Tron. Revolut will internally cover currency spreads to guarantee the 1:1 rate as long as stablecoins maintain their pegs.
Market Reaction and Competitive Landscape
The move comes after Revolut secured a Markets in Crypto-Assets Regulation (MiCA) license from the Cyprus Securities and Exchange Commission. This license allows Revolut to offer regulated crypto services in 30 European Economic Area countries.
Industry observers note the potential global impact, particularly for small to medium-sized businesses in countries with economic instability, such as Turkey. Elbruz Yılmaz, managing partner at Outrun, said, “SMBs lose considerable value when having to convert from a currency like the Turkish lira to the USD,” referencing the added costs from SWIFT fees and currency slippage.
In the past year, Revolut reported holding nearly $35 billion in customer assets, a 66% increase from 2023, with monthly transaction volume also climbing significantly. Revolut has provided crypto trading since 2017 and now supports more than 200 tokens and a payment feature that enables users to pay with crypto for daily purchases.
The fee-free USD to stablecoin exchange follows similar developments from other financial institutions. Earlier this week, Western Union announced it will introduce a stablecoin settlement system on Solana by 2026. Leading payment platforms, including Zelle and MoneyGram, also disclosed upcoming stablecoin product launches for faster and more efficient cross-border transactions. Meanwhile, SWIFT is developing a blockchain-based payment system for stablecoins and tokenized assets.
What’s Next for Stablecoin Integration and Payments
Revolut’s 1:1 USD to stablecoin feature aims to reduce operational friction and expand user choice, particularly benefiting customers and businesses engaged in international finance and digital assets. Industry experts will be monitoring how this impacts stablecoin usage, especially in regions with volatile local currencies.
As digital asset integration accelerates across financial services, the competition among banks, fintechs, and payment platforms is increasing. Stablecoins’ promised efficiency and cost reduction continue to drive innovation in cross-border settlements and everyday transactions.
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