Fintech giant Revolut has launched a groundbreaking feature allowing its 65 million global users to convert between U.S. dollars and major stablecoins at a 1:1 ratio with no fees, spreads, or hidden costs. Users can exchange up to $578,630 every 30 rolling days, with the service covering USDC and USDT stablecoins across six blockchains, including Ethereum, Solana, and Tron.
Leonid Bashlykov, Revolut's Head of Product for Crypto, announced the update on LinkedIn, stating, "Today marks the day we remove all anxiety and friction of moving between fiat and crypto. This isn't about getting a better rate—it's about eliminating the pain of going on and off-chain." Revolut will internally cover the spread to maintain the 1:1 rate, contingent on stablecoins maintaining their dollar peg.
The move follows Revolut's recent acquisition of a Markets in Crypto-Assets Regulation (MiCA) license from Cyprus, permitting regulated crypto services across 30 European Economic Area countries. The platform, which has offered crypto trading since 2017 and supports over 200 tokens, reported holding nearly $35 billion in customer assets in 2024, a 66% increase from 2023.
Elbruz Yılmaz from venture capital firm Outrun highlighted the potential impact on small businesses in economically challenged countries like Turkey, where the feature could reduce losses from currency conversions and cross-border fees, turning stablecoins into efficient working capital infrastructure.
This development aligns with broader industry trends, as Western Union plans to launch a stablecoin settlement system on Solana in the first half of 2026, while Zelle, MoneyGram, and SWIFT are also advancing stablecoin and blockchain-based payment solutions.
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