While everyone is sounding the alarm about dubious activities and lack of transparency of the issuer of the top stablecoin UDST — Tetherwhose collapse could bring down its competitors, Revolut suddenly announces its intention to launch its own label.
The fintech giant has recently obtained a banking license in the UK, is valued at $45 billion, and is actively working on creating this digital asset.
A representative of Revolut confirmed to Coindesk its intention to expand its cryptocurrency offerings, emphasizing compliance with all requirements and standards, as the company aims to become a «safe place» for the crypto community.
«Cryptocurrency is a significant part of our vision of banking without borders. We have a clear mission to become the most secure and accessible cryptocurrency service provider», — said a Revolut spokesperson.
Tether’s USDT with a capitalization of $121.25 billion is the leader of the stablecoin market. Circle’s USDC ranks second with $35.54 billion.
Earlier, such companies as PayPal, Ripple, and BitGo have already announced their intention to issue their own stablecoins.
- PayPal has already launched PYUSD.
- Since August 2024, Ripple USD (RUSD) has been undergoing testing in the XRP Ledger mainnet.
- On September 18, BitGo announced that the USDS launch is scheduled for January 2025.
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