Revolut Confirms Research on Developing Its Own Stablecoin
Latest Information on Revolut's Cryptocurrency Project
On June 20, The Decrypt reported that Revolut, the renowned digital bank in London, is actively exploring the possibility of issuing its own stablecoin. Sources close to the matter revealed that the company has begun negotiations to collaborate with at least one business in the cryptocurrency sector, signifying a major strategic move. This trend reflects the shift of non-crypto corporations in expanding their blockchain technology portfolio to effectively leverage DeFi applications.
Movement in the Global Cryptocurrency Industry
In recent years, due to changes in the regulatory environment in the United States and many other countries, many non-crypto organizations have begun to consider issuing stablecoins as an optimal method to enhance liquidity and protect capital in international transactions. With over 55 million retail customers and 500 thousand business customers in 160 countries, Revolut easily leverages the advantage of expanding its network through the issuance of crypto-backed stablecoins, promoting the digital transformation process in traditional banking.
Investment Strategy and Applications of Stablecoins
The launch of stablecoins will help Revolut enhance the execution of cross-border transactions, ensuring processing speed and minimizing value volatility. At the same time, stablecoins will help the bank strengthen its competitiveness in the DeFi market, aligning with the strategy to expand its global cryptocurrency network. The issuance of stablecoins also contributes to increasing customer trust in the blockchain ecosystem while enhancing profits from digital financial services.
Market Potential and Impact on the Banking Sector
Revolut's shift towards cryptocurrency banking is a positive signal for the blockchain industry. When a leading bank participates in the issuance of stablecoins, the ability to expand the market and access DeFi services will become increasingly robust. This not only helps to promote the integration between traditional banks and crypto platforms but also creates a solid foundation for the sustainable development of traditional operations in the digital age. This is expected to reshape the way global banking operates and is controlled in the near future.
Source: https://tintucbitcoin.com/revolut-sap-ra-mat-stablecoin-moi/
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