For those new to the term, a stablecoin is a type of cryptocurrency designed to have a stable value.
This makes it less likely to experience big price swings, unlike other cryptocurrencies like Bitcoin. Let’s explore more about this news about a possible Revolut’s stablecoin.
Revolut Eyes Stablecoin Expansion
According to Coindesk, two people familiar with Revolut’s plan said the company is pretty far along in the process. This is exciting news for anyone who uses Revolut’s app, which already lets people buy and sell crypto. Creating their stablecoin would be a big step toward making their crypto services even better.
A spokesman for Revolut mentioned that the company’s goal is to offer more crypto options. They want to make sure they’re doing everything by the book, so they can be a trusted place for people who want to use crypto. Revolut wants to be a “safe harbor” for the entire crypto community. In other words, they want to be a place where people can feel secure using digital currencies.
BREAKING: EUROPEAN FINTECH @RevolutApp SAID TO BE PLANNING STABLECOIN – PER @CoinDesk pic.twitter.com/c9QqjtWKYe
— DEGEN NEWS (@DegenerateNews) September 18, 2024
Revolut also believes in “banking without borders,” which means they want to make it easy for people all over the world to manage their money, no matter where they are. The company sees crypto as a big part of this vision. They’ve made it clear that they want to become the safest and most accessible provider of crypto services.
Creating their stablecoin fits right into that plan. With a stablecoin, Revolut could offer a digital currency that’s easier to use for everyday transactions, because people wouldn’t have to worry about the value going up and down all the time. This could make it a lot more appealing to people who might be nervous about jumping into the world of crypto.
Disclaimer
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