Revolut offers fee-free fiat to stablecoin conversions

For US$1, users can convert it in-app for exactly 1 USDC (issued by Circle) or USDT (Tether).

Explaining the pricing structure, Leonid Bashlykov, head of product, crypto at Revolut, says: “Every time I go on-chain, I struggle with the same thing: you never actually get 1:1 when moving between fiat and stablecoins. There’s always that annoying 0.0002 spread, or a hidden fee somewhere. $1.00 should actually mean $1.00.”

As part of the initiative, the company enables users to move their stablecoins across multiple blockchain networks, link their balance to their Visa and Mastercards for everyday spending and protect withdrawals with biomtrics.

“I honestly believe the biggest breakthroughs in crypto won’t come from yet another complex DeFi protocol,” says Bashlykov. “They’ll come from fixing what’s still broken — things that should’ve been simple years ago: On/off-ramps; handling balances across multiple chains; and simplicity & transparency.”