Stablecoin innovation is accelerating across both traditional banking groups and fintech giants, with Argentina’s financial sector and UK-based Revolut advancing separate projects aimed at institutional and corporate payment use cases.
In Argentina, two banking-backed financial groups have moved closer to launching peso-denominated stablecoins. BIND Group, which manages over $2 billion in assets and owns BIND Banco Industrial, is developing its digital peso through its virtual asset service provider BEN. Earlier this year, BEN also partnered with Circle to offer institutional clients access to USDC under Argentine regulatory frameworks. Petersen Group is advancing a similar initiative with technical support from crypto infrastructure firm Lirium; its stablecoin, called DIPE, already has a published whitepaper, indicating progress beyond the planning stage. Both projects are structured outside the banking entities themselves because the Argentine Central Bank has prohibited private banks from offering crypto-related services since May 2022. The tokens are designed for programmable treasury payments, collateral management, and on-chain settlement, targeting corporate operations rather than retail consumers. Argentine authorities are reportedly evaluating whether to ease the current restrictions, though no formal policy change has been announced.
Meanwhile, Revolut is testing a GBP-denominated stablecoin after being selected by the UK’s Financial Conduct Authority (FCA) for its regulatory sandbox in February 2026. The firm was one of four chosen from twenty applicants, with testing that began in Q1 2026 and results expected to shape the UK’s final stablecoin rules later this year. The proposed stablecoin would be backed by pound reserves and pegged one-to-one to sterling, allowing users to buy, hold, sell, and transfer it within the Revolut app and across public crypto networks. Revolut’s stablecoin payment volumes surged an estimated 156% year-over-year to roughly $10.5 billion in 2025, while the company also filed for a US bank charter and plans to integrate stablecoin access into its future American banking products. This dual-track expansion—alongside the selection for the FCA sandbox—positions Revolut as a potential major issuer in the stablecoin race, competing with existing players such as PayPal’s PYUSD and the dominant USDT and USDC.
The developments come against a backdrop of rapid stablecoin adoption. Bloomberg Intelligence projects stablecoin payment flows could grow at an 81% compound annual rate to $56.6 trillion by 2030, and even with a slight monthly supply contraction in June 2026, adjusted transaction volumes hit a record $1.79 trillion according to Visa’s data. These institutional-focused projects signal that stablecoins are evolving from speculative instruments into core payment infrastructure for both emerging and established economies.
