Revolut has rolled out a new feature allowing users to exchange US dollars for stablecoins, specifically USDT and USDC, without incurring any fees. This innovative service supports six major blockchains and signifies Revolut’s ongoing commitment to simplifying cryptocurrency transactions for its vast user base.
Revolut Simplifies Transactions Between Fiat and Crypto
This latest functionality enables Revolut users to convert USD directly into Tether (USDT) or USD Coin (USDC) on a one-to-one basis without traditional fees or spreads. Customers can exchange up to $578,000—approximately €500,000—within a rolling 30-day period at no extra cost.
With each dollar deposited, users receive an equivalent amount in stablecoins, effectively reducing the common price anxieties and conversion hurdles that typically accompany the shift from fiat currencies to cryptocurrencies. The service operates across six significant blockchain networks, including Ethereum, Solana, and Tron, providing flexible routing options for users.
The application effortlessly manages the technical complexities of transactions, enabling clients to select their intended blockchain without navigating tedious bridging processes or on-chain settlements.
Leonid Bashlykov, Revolut’s crypto products head, described this launch as a significant leap towards seamless access to cryptocurrencies. He emphasized that the company absorbs the spread internally, ensuring accurate one-to-one conversions, provided that stablecoins retain their dollar peg.
A Model Built on Simplicity and Trust
The swap feature in Revolut’s app reflects the company’s historical approach to exchanges, which has set a new standard for transparent and real-time conversions in digital banking services. Just as Revolut revolutionized commission-free currency trading a decade ago, it now aims to make stablecoin exchanges equally straightforward and accessible.
While in-app conversions are entirely free, users should be aware that standard network gas fees or withdrawal charges may still apply when tokens exit the platform. Nevertheless, the removal of spreads and conversion fees exemplifies a rare instance of a financial institution entirely absorbing costs to facilitate cryptocurrency adoption.
This development is particularly significant for small and medium enterprises, especially in regions facing monetary instability. Venture capitalist Elbruz Yılmaz noted that Revolut’s direct exchange interface transforms stablecoins from speculative assets into crucial working capital, aiding companies in reducing currency loss and accelerating payment cycles.
Capitalizing on Strong Performance in Crypto
The launch leverages a robust year for Revolut’s wealth division, which encompasses cryptocurrency trading, commodities, and savings. This segment experienced a staggering 298% surge in revenue during 2024, reaching £506 million, largely fueled by growing demand for digital asset products.
The company’s annual results revealed a record profit of £1.1 billion and total revenue of £3.1 billion, highlighting its evolution from a digital bank to a global financial powerhouse. Much of this momentum stemmed from the introduction of Revolut X, its professional trading platform launched in 2024. Offering over 100 tokens with no maker fees and minimal taker fees, Revolut X positions the fintech as a formidable competitor to established crypto platforms.
The company’s expansion into 30 European countries later that year further solidified its presence in the region. With the new 1:1 stablecoin conversion feature, Revolut not only dismantles a major barrier to digital asset adoption but also redefines what a modern neobank can deliver, positioning itself at the crossroads of traditional banking and the rapidly evolving decentralized financial landscape.
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