Neobank Revolut Launches 1:1 USD to Stablecoin Exchange

Global Neobank Revolut has launched 1:1 USD-to-stablecoin for its 65 million users. Thanks to this new feature, Revolut users can exchange up to $578,630 every 30 days without spreads or fees. The initiative marks a significant step toward seamless fiat-to-crypto transitions. Leonid Bashlykov, Revolut’s head of product in crypto, shared in a LinkedIn post, “Today marks the day we remove all anxiety and friction of moving between fiat and crypto.”  

The new feature is called “1:1 Stablecoins by Revolut — $1.00 means $1.00” and supports Circle’s USDC and Tether’s USDT across six major blockchains, including Ethereum, Solana, and Tron.

Revolut, which reported holding nearly $35 billion in customer assets in 2024, a 66% jump from 2023, recently secured a Markets in Crypto-Assets (MiCA) license from the Cyprus Securities and Exchange Commission. This license enables it to offer regulated crypto services across 30 European Economic Area (EEA) countries, expanding its reach and legitimacy in the digital finance sector.

Bashlykov emphasized that the 1:1 model isn’t about achieving better rates but about “eliminating the pain of going on and off-chain.” By absorbing internal spreads, Revolut guarantees users a true one-to-one exchange, as long as the stablecoins remain pegged to the U.S. dollar.

Industry experts suggest the move could especially benefit small and medium-sized businesses (SMBs) in economically unstable countries. Elbruz Yılmaz, managing partner at Outrun VC, highlighted that SMBs often face heavy FX losses and transaction fees when converting currencies like the Turkish lira to USD. “A clean one-to-one ramp turns stablecoins from speculative assets into working capital infrastructure,” Yılmaz said, adding that it can improve cash flow, treasury control, and transaction speed.

Revolut’s announcement follows a broader fintech trend. Western Union, Zelle, and MoneyGram have all revealed their own stablecoin and blockchain settlement plans in recent weeks. The convergence of these developments, alongside SWIFT’s exploration of blockchain-based settlements, signals a new era where stablecoins may soon underpin global digital payments.

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