Revolut Eliminates All Fees for USD to Stablecoin Conversions

TLDR

• Revolut now allows 65 million users to convert USD and stablecoins at a 1:1 ratio without fees, spreads, or costs up to $578,630 per month
• The service covers USDC and USDT across six blockchains including Ethereum, Solana, and Tron
• Revolut received a MiCA license from Cyprus allowing regulated crypto services across 30 European countries
• Western Union announced plans for a stablecoin settlement system on Solana launching in first half of 2026
• Zelle and MoneyGram are also developing stablecoin solutions for cross-border payments

Revolut has launched a new feature allowing its 65 million users to convert between USD and stablecoins at a 1:1 ratio. The British neobank announced users can exchange up to $578,630 every 30 days without paying fees or spreads.

The service supports Circle’s USDC and Tether’s USDT across six blockchains. These include Ethereum, Solana, and Tron networks.

Leonid Bashlykov, Revolut’s head of product in crypto, announced the feature on LinkedIn. He said the goal is to remove all friction when moving between fiat and crypto.

Revolut will cover the spread internally to maintain the 1:1 rate. This works as long as the stablecoins maintain their dollar peg.

The company reported holding nearly $35 billion in customer assets in 2024. This represents a 66% increase from 2023.

Revolut secured a Markets in Crypto-Assets Regulation license from Cyprus last week. This permits the company to offer regulated crypto services in 30 European Economic Area countries.

The platform has offered crypto trading since 2017. It currently supports over 200 tokens and includes a pay-with-crypto option for daily purchases.

Impact on Small Businesses

Elbruz Yılmaz from venture capital firm Outrun said the feature could help businesses in countries with economic challenges. He specifically mentioned Turkey as an example.

Small and medium-sized businesses lose money when converting from currencies like the Turkish lira to USD. Additional SWIFT fees and slippage during cross-border transfers compound these losses.

Yılmaz explained that a clean 1:1 conversion turns stablecoins into working capital infrastructure. This means faster payment cycles and better treasury control for businesses.

Other Financial Companies Join Stablecoin Movement

Western Union announced plans this week to launch a stablecoin settlement system on Solana. The remittance platform expects to roll out the service in the first half of 2026.

The solution will include the US Dollar Payment Token (USDPT). Western Union plans to issue this token on partner crypto exchanges through its Digital Asset Network.

The parent company of Zelle announced plans to launch stablecoins for faster cross-border payments. MoneyGram said in September it would integrate a USDC wallet for users in Colombia through its crypto app.

SWIFT is building a blockchain payment settlement platform. The system will support stablecoin and tokenized asset transfers.

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