Revolut launches instant USD-stablecoin swap feature, shaking up the European fintech landscape

The new European banking player Revolut has just made a big move: users can now directly exchange US dollars for USDC and USDT at a 1:1 rate, with zero fees and zero slippage, and a single transaction limit of nearly $580,000, available once every 30 days.

It may look simple, but this is a major development. Revolut’s Head of Crypto Product, Bashlykov, stated bluntly: “This isn’t about exchange rate competition—it’s about eliminating the friction between fiat and on-chain assets.” The company promises to maintain the 1:1 peg and absorb all internal spreads themselves.

The numbers look good

This comes as Revolut’s crypto business is surging:

• In 2024, customer assets reached $35 billion, up 66% year-over-year
• Transaction volume is also rising sharply
• Just received a MiCA license from the Cyprus SEC, allowing it to offer compliant crypto services in 30 countries across the European Economic Area

Supporting 6 major chains including Ethereum, Solana, and Tron, this means the cross-chain exchange experience has been taken to a new level.

Why this matters for business

Outrun Managing Partner Yilmaz put it simply: “This turns stablecoins from speculative assets into true working capital tools.” Especially in highly volatile currency markets like Turkey, businesses can save significant amounts on forex losses, and treasury operations become much faster.

For small and medium-sized enterprises, this is a real quality-of-life boost—what used to require switching back and forth between on-chain and off-chain can now be done in a single app.

The market structure is being reshaped

Revolut has hit a major pain point, and other players are taking notice:

• Western Union plans to launch a stablecoin system on Solana in the first half of next year
• Major institutions behind Zelle have announced plans to issue stablecoins for cross-border payments
• MoneyGram is expanding its USDC wallet in Latin America
• SWIFT is working on a blockchain settlement network

The line between traditional finance and crypto is rapidly blurring. Revolut’s 1:1 system could become the new standard—defining how digital currency moves between banks, enterprises, and consumers.

Key takeaway: This isn’t just a product feature—it’s European fintech making a real-world bet on the future of stablecoins.