Revolut Enters Stablecoin Arena with Pound-Pegged Token
Revolut, a fintech giant with over 70 million customers, has announced plans to launch its own stablecoin, marking a significant move into the world of digital payments infrastructure. The company is starting by testing a pound-sterling-pegged token within the UK Financial Conduct Authority's regulatory sandbox.
The GBP-pegged token will be backed 1:1 by reserves held in pounds and will cover various use cases, including issuance, payments, wholesale settlement, and crypto trading. Revolut has already integrated stablecoin-based remittances using USDC and USDT over the Polygon network, processing nearly $700 million in remittance volume since late 2024.
The company's entry into stablecoin issuance represents a shift in how fintechs and banks view stablecoins as core payments infrastructure. Revolut sits in an unusual sweet spot, having secured a full UK banking license in March 2026 and targeting a 2027 launch for Revolut Bank, N.A. in the US.