Neobank Revolut has launched a new 1:1 conversion feature between the U.S. dollar (USD) and major stablecoins, USDC and USDT, removing fees and spreads for users. The service allows Revolut’s 65 million customers to exchange up to $578,630 every 30 rolling days with no hidden costs.
According to Leonid Bashlykov's Linkedin post, Revolut’s head of product in crypto, the move marks a pivotal step toward frictionless transactions between fiat and digital currencies.
“Today marks the day we remove all anxiety and friction of moving between fiat and crypto,” he wrote in a LinkedIn post announcing the feature. “1:1 Stablecoins by Revolut — $1.00 means $1.00.”
The new conversion mechanism supports six blockchains, including Ethereum, Solana, and Tron, giving users flexibility in how they move stablecoins across networks. Revolut will absorb internal spreads to maintain the 1:1 rate, provided the stablecoins hold their peg to the U.S. dollar.
Strengthening Revolut’s crypto market position
This feature follows Revolut’s recent achievement of securing a Markets in Crypto-Assets (MiCA) license from the Cyprus Securities and Exchange Commission, authorizing it to offer regulated crypto services across the 30 countries of the European Economic Area (EEA).
The move signals Revolut’s deepening integration with digital assets and reinforces its strategy to position itself as a financial super app that merges fiat and crypto seamlessly. In 2024, the company announced in their annual report it was holding nearly $35 billion in customer assets, a 66% increase from 2023, along with significant growth in monthly transaction volume.
Revolut has offered crypto trading since 2017 and now supports over 200 tokens, alongside a pay-with-crypto feature enabling users to use digital assets for everyday purchases.
Eliminating friction in global money movement
Bashlykov emphasized that the 1:1 conversion is not about beating market rates but about eliminating complexity.
“This isn’t about getting a better rate — it’s about completely eliminating the pain of going on and off-chain,” he said.
The initiative could also benefit small and medium-sized businesses (SMBs) in regions facing economic instability. Elbruz Yılmaz, managing partner at venture capital firm Outrun, noted that businesses in countries like Turkey suffer from value loss when swapping local currency into USD, made worse by SWIFT fees and foreign exchange slippage.
In response to Revolut’s announcement, Yılmaz highlighted that a “clean one-to-one ramp turns stablecoins from a speculative asset into working capital infrastructure,” enabling “faster cycles, less FX bleed, and better treasury control.”
By offering direct, no-cost conversions between fiat and stablecoins, Revolut effectively lowers entry barriers for SMBs and individuals who use stablecoins as operational currency or remittance tools.
Industry-wide push toward stablecoin adoption
Revolut’s launch arrives amid a wave of fintech firms enhancing their stablecoin capabilities. Western Union recently announced plans to deploy a stablecoin settlement system on the Solana blockchain by the first half of 2026. The system will feature the US Dollar Payment Token (USDPT) and the Digital Asset Network, designed to streamline international transfers.
Similarly, Zelle’s parent company, Early Warning Services, revealed plans to launch a stablecoin system for cross-border payments, while MoneyGram is integrating USDC wallets for users in Colombia through its crypto app. Even SWIFT, the traditional interbank messaging network, is advancing its own blockchain-based payment settlement platform for stablecoin and tokenized asset transactions.
Revolut’s 1:1 stablecoin conversion aligns with this growing trend, signaling how major financial players are turning stablecoins from niche crypto tools into mainstream payment infrastructure.
Outlook: redefining accessibility in crypto finance
By removing the spread and fee layers that typically complicate fiat-to-crypto conversions, Revolut reinforces its vision of making digital finance accessible to all. The initiative positions stablecoins not only as hedging instruments but also as vital tools for businesses, freelancers, and individuals transacting globally.
As traditional institutions deepen their blockchain integrations, Revolut’s step could serve as a blueprint for future neobank innovation, combining regulatory compliance, liquidity efficiency, and user convenience, and perhaps accelerating the convergence of traditional banking and crypto finance.
Gunel Ismayilova
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