Revolut launches no-fee USD-to-stablecoin exchange
Revolut has launched a no-fee USD-to-stablecoin exchange that lets its 65 million users convert up to $578,630 in USD into USDC or USDT at a guaranteed 1:1 rate every 30 days. This USD-to-stablecoin exchange runs across six blockchain networks, including Ethereum, Solana and Tron, with Revolut covering the internal spread to maintain stablecoin pegs, while users pay only standard network fees on withdrawals. Leonid Bashlykov, Head of Crypto Product at Revolut, says it simplifies fiat-to-crypto flows, and venture capitalist Elbruz Yılmaz notes its value for businesses in volatile currency regions seeking to reduce conversion losses and use stablecoins as working capital. Since launching crypto trading in 2017, Revolut now supports over 200 tokens and enables everyday crypto spending. Its crypto unit reported a 298% revenue surge to £506 million in 2024, driven by the Revolut X platform. Crypto traders can leverage this feature to move funds swiftly, hedge against fiat volatility and boost on-chain stablecoin liquidity.
Neutral
Revolut’s fee-free USD-to-stablecoin exchange is aimed at boosting on-chain liquidity and simplifying fiat-to-crypto flows, but as USDC and USDT are designed to maintain a 1:1 peg to the US dollar, this service is unlikely to exert upward or downward pressure on their market price. In the short term, increased trading volume and network activity may enhance liquidity without affecting the stablecoin peg. Over the long term, broader adoption and ease of fiat-to-stablecoin conversions could reinforce market confidence, yet the pegged nature of USDC and USDT should keep their prices stable.