Stablecoin

2024

PayPal USD

Billion

<ul>
  
 <li>Revolut aims to enter the competitive stablecoin market, leveraging its $45B valuation and recent UK banking license.</li>   
 <li>Stablecoin interest payments generate steady income; Tether's 2024 profit hit $5.2B, prompting Revolut's strategic move.</li>   
 <li>Fintech giants like PayPal and Ripple are joining the stablecoin race, as Europe’s MiCA regulations promise clearer guidelines.</li> 
</ul>   
<p>The London-based fintech startup Revolut has proceeded with the creation of its own stablecoin in an effort to capitalize on this profitable but extremely competitive industry. The business, valued at $45 billion, apparently has advanced plans after obtaining a UK banking license in July. Offering bitcoin trading through its app and establishing a stand-alone exchange in May, <a href="https://www.revolut.com/" target="_blank" rel="noreferrer noopener nofollow">Revolut</a> has been growing its cryptocurrency offerings.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/RadarHits/status/1836389144605413437 
 </div>
</figure>   
<h3 class="wp-block-heading" id="h-capitalizing-on-stablecoin-profits"><strong>Capitalizing on Stablecoin Profits</strong></h3>   
<p>Through interest payments, stablecoins linked to actual assets, such as government debt, generate a consistent flow of income. In the first half of 2024, market leader Tether <a href="https://tether.io/news/tether-q2-2024-attestation-reports-record-breaking-5-2-billion-profit-in-first-half-of-2024-highest-treasury-bill-ownership-ever-largest-ever-group-consolidated-equity-at-almost-12-billion/" target="_blank" rel="noreferrer noopener nofollow">announced</a> a $5.2 billion profit.</p>   
<p>While ensuring that its consumers are secure and compliant, Revolut hopes to profit from this profitability. A corporate spokesperson claims that Revolut's stablecoin policy aligns with the company's overarching objective of offering safe cryptocurrency services and international banking.</p>   
<p>PayPal, Ripple, BitGo, and other financial companies are also making inroads into the stablecoin market. PayPal USD (PYUSD), a proprietary stablecoin, was launched in August 2023.</p>   
<p>In April 2024, BitGo released its stablecoins, while in September 2024, Ripple announced theirs. The rise in interest in stablecoins, which are mostly led by Tether's USDT and Circle's USDC, is evident from these entries.</p>   
<h3 class="wp-block-heading" id="h-regulatory-developments-and-future-outlook"><strong>Regulatory Developments and Future Outlook</strong></h3>   
<p>Moreover, the <a href="https://cryptonewsland.com/bbva-enhances-digital-asset-services-integrates-usdc-for-institutional-clients/" target="_blank" rel="noreferrer noopener sponsored nofollow">impending Markets in Crypto Assets</a> (MiCA) legislation is changing the regulatory landscape in Europe. Stablecoin issuers like Revolut will benefit from greater clarity thanks to these new requirements. As it works to grow globally, the company places a high priority on following these new rules.</p>   
<p>As evidence of its commitment to innovation and leadership in the <a href="https://cryptonewsland.com/biden-poised-to-veto-h-j-res-109-over-sec-digital-asset-rules/" target="_blank" rel="noreferrer noopener sponsored nofollow">digital financial sector</a>, Revolut has entered the stablecoin market. The business is able to make an impact because it has over 40 million users worldwide. The introduction of a stablecoin by Revolut emphasizes the growing rivalry in the market, but it may have an advantage because to its well-established reputation for security and compliance.</p>   
<p>The impending stablecoin from Revolut is a reflection of the growing trend of fintech profiting from the lucrative stablecoin sector. Revolut has a sizable user base and strong financial support, which positions it to compete well in this market.</p> 
<p>The post <a href="https://cryptonewsland.com/revolut-joins-the-stablecoin-race-will-their-45-billion-valuation-give-them-an-edge/">Revolut Joins the Stablecoin Race: Will Their $45 Billion Valuation Give Them an Edge?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Revolut Joins the Stablecoin Race: Will Their $45 Billion Valuation Give Them an Edge?

Table of Contents

Crypto News Land

Other articles published on Sep 19, 2024

Putin: Russia is a World Leader in Mining; Revenues Could Reach 50 Billion Rubles Annually

IMF: Mining Will Consume 2% of Global Electricity by 2027

Turkey Enforces Cryptocurrency Exchange Regulations

DZ Bank partners with Boerse Stuttgart for crypto trading

Most Trending Cryptocurrencies on Polygon – Argocoin, Rogue Coin, Sponge

Olive Garden Parent Firm and Uber Cook Up Delivery Partnership, Stocks Gain

Join our free newsletter for daily crypto updates!