Robinhood and Revolut Plan to Launch a Stablecoin: Bloomberg

According to a recent report from Bloomberg, financial technology company Revolut is contemplating the idea of introducing its own stablecoin as part of its expanding cryptocurrency product range.

However, despite ongoing deliberations, a final decision has not yet been made.

There have been rumors that Robinhood might also be considering the launch of a stablecoin. However, a representative for the company has clarified that there are currently no plans for such a release.

While Robinhood has firmly denied any immediate actions in this area, Revolut has yet to confirm or deny its own plans for a stablecoin.

This move by Revolut comes as the stablecoin market, largely dominated by Tether’s USDT, faces increased regulatory scrutiny, particularly in the European Union.