Revolut US bank plans stablecoins alongside FDIC-insured accounts: Report

Fintech company Revolut plans to offer stablecoins through its future US bank, Reuters reported Wednesday, citing comments from the company's US CEO, Cetin Duransoy.Duransoy told the news service that customers of the bank, which is expected to launch next year, will have access to FDIC-insured accounts, multi-currency deposits, stock trading and cryptocurrency services. He said that Revolut plans to initially target retail and business customers with international banking needs, including those managing multiple currencies.Revolut applied for a US national bank charter in March, which would allow the company to offer federally insured banking products nationwide under a single federal regulatory framework. That filing marked a change from the company's earlier plans to acquire a US bank as part of its expansion strategy. Duransoy joined Revolut that same moont to lead its growth in the United States.Revolut is looking to get a US foothold in a stablecoin market that has grown to around $319.5 billion, up from about $247 billion a year ago, according to DefiLlama data.Founded in 2015, Revolut offers digital banking, payments, investing and cryptocurrency products to more than 75 million customers globally, according to its website. Outside of the US, its customers are already able to use their bank cards to make payments with USDT and USDC Stablecoins. Source: DefiLlamaRelated: Mastercard expands support to USDC, PYUSD, RLUSD stablecoin settlementStablecoins draw big interest from financial services providersRevolut's plans come amid a series of recent stablecoin launches by banks, fintech companies and payment providers as digital-dollar products move deeper into payments and banking services.In December, digital bank SoFi launched SoFiUSD, a dollar-backed token that enables customers to transact on the Ethereum and Solana networks through the company's mobile app.Last week, Falcon Finance introduced the stablecoin fUSD through Anchorage Digital's regulated issuance platform. The token is backed by cash, repurchase agreements and short-term US government securities and is intended for institutional trading and treasury operations.On Tuesday, MoneyGram introduced MGUSD in partnership with Bridge, Stripe's stablecoin platform. The Stellar-based token is integrated into the MoneyGram app and can be used to hold and transfer dollar-denominated balances.The activity has coincided with a broader push by fintech and digital asset companies to obtain federal banking approvals in the United States. This year, Nubank and Crypto.com received conditional approval to establish national banks, while Circle, Ripple, BitGo, Fidelity Digital Assets and Paxos secured similar approvals from the Office of the Comptroller of the Currency in late 2025.Source: Crypto.comMagazine: Big Questions: Do we really only need 2–5 cryptocurrencies?Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.