Revolut has eliminated all fees and spreads when converting between USD and two major stablecoins, USDT and USDC, allowing its 65 million global users to exchange up to €500,000 every 30 rolling days at exact 1:1 rates. The move removes traditional friction points in moving between fiat and crypto, replicating the company’s decade-old approach to foreign exchange that made transparent currency conversion a standard expectation for digital banking users. Leonid Bashlykov, Head of Product Crypto at Revolut, announced the feature on LinkedIn, emphasizing that users will receive exactly $1.00 in stablecoins for every $1.00 in cash and vice versa. The service supports transfers across six blockchain networks, including Ethereum, Solana, and Tron, providing fee-less on-ramp and off-ramp capabilities that eliminate the markup typically charged by exchanges and trading platforms.Source: LinkedIn Crypto Trading Drives 298% Revenue Surge Revolut’s wealth division, encompassing cryptocurrency, commodities, trading, and savings products, generated £506 million in 2024 while posting 298% year-over-year revenue growth.Source: 2024 Annual Report The surge was primarily driven by increased crypto trading activity across the industry, as well as the successful May 2024 launch of Revolut X, the company’s standalone desktop trading platform designed for professional traders. Revolut X offers trading in more than 100 tokens with fixed fees of 0% for makers and 0.09% for takers, regardless of volume, positioning it as a direct competitor to established crypto exchanges. The platform was expanded to 30 additional European countries in November 2024, providing real-time trading tools, advanced analytics, and TradingView chart integration for users across the European Economic Area. The fintech reported record financial results for 2024, surpassing $1 billion in annual profit for the first time with net earnings reaching £1.1 billion, a 149% increase compared to the previous year. Total revenue increased 72% to £3.1 billion, with subscription services rising 74% to £423 million and the loan book expanding 86% to £979 million as the company prepared to launch full banking operations in the UK following its approval of a restricted banking license in July 2024. Platform Expansion and Strategic Partnerships The company launched Revolut Ramp in March 2024, partnering with MetaMask developer Consensys to enable users to purchase crypto directly in their Web3 wallets. In August, Revolut partnered with Ledger, allowing customers in several EEA countries to buy cryptocurrencies using their Revolut accounts or cards through Ledger Live. Most customer funds are stored in cold storage with 24/7 encrypted chat support, while advanced risk monitoring tools prevent account takeovers. The platform integrates a Crypto Learn tool to improve crypto knowledge for retail users, particularly targeting first-time crypto buyers with educational resources alongside trading capabilities. Regulatory Progress and Global Expansion Plans Revolut Digital Assets Europe Ltd secured Crypto Asset Service Provider registration from Spain’s Bank of Spain and De Nederlandsche Bank in 2024 as the company works toward full MiCA authorization across the European Union. The regulatory progress comes as Revolut pursues banking licenses in 10 additional countries while planning over €1 billion in French investment through 2028, including the establishment of a Western European headquarters in Paris. The company is exploring the acquisition of a US nationally chartered bank to accelerate its entry into the American market, bypassing the lengthy charter application process that can take years. Revolut currently serves 60 million customers globally, with 12 million based in the UK, though crypto services remain suspended in the United States since October 2023 due to regulatory uncertainty. Founder and CEO Nik Storonsky secured new investment in 2024 through a secondary share sale at a $45 billion implied valuation. Recent reports also suggest the company is in talks for a $1 billion fundraising round that would value the fintech at approximately $65 billion. The company is also reportedly considering a dual listing in London and New York, which could position it among the top 15 most valuable firms on the London Stock Exchange and make it the first company to simultaneously join the FTSE 100 and list in New YorkRevolut has eliminated all fees and spreads when converting between USD and two major stablecoins, USDT and USDC, allowing its 65 million global users to exchange up to €500,000 every 30 rolling days at exact 1:1 rates. The move removes traditional friction points in moving between fiat and crypto, replicating the company’s decade-old approach to foreign exchange that made transparent currency conversion a standard expectation for digital banking users. Leonid Bashlykov, Head of Product Crypto at Revolut, announced the feature on LinkedIn, emphasizing that users will receive exactly $1.00 in stablecoins for every $1.00 in cash and vice versa. The service supports transfers across six blockchain networks, including Ethereum, Solana, and Tron, providing fee-less on-ramp and off-ramp capabilities that eliminate the markup typically charged by exchanges and trading platforms.Source: LinkedIn Crypto Trading Drives 298% Revenue Surge Revolut’s wealth division, encompassing cryptocurrency, commodities, trading, and savings products, generated £506 million in 2024 while posting 298% year-over-year revenue growth.Source: 2024 Annual Report The surge was primarily driven by increased crypto trading activity across the industry, as well as the successful May 2024 launch of Revolut X, the company’s standalone desktop trading platform designed for professional traders. Revolut X offers trading in more than 100 tokens with fixed fees of 0% for makers and 0.09% for takers, regardless of volume, positioning it as a direct competitor to established crypto exchanges. The platform was expanded to 30 additional European countries in November 2024, providing real-time trading tools, advanced analytics, and TradingView chart integration for users across the European Economic Area. The fintech reported record financial results for 2024, surpassing $1 billion in annual profit for the first time with net earnings reaching £1.1 billion, a 149% increase compared to the previous year. Total revenue increased 72% to £3.1 billion, with subscription services rising 74% to £423 million and the loan book expanding 86% to £979 million as the company prepared to launch full banking operations in the UK following its approval of a restricted banking license in July 2024. Platform Expansion and Strategic Partnerships The company launched Revolut Ramp in March 2024, partnering with MetaMask developer Consensys to enable users to purchase crypto directly in their Web3 wallets. In August, Revolut partnered with Ledger, allowing customers in several EEA countries to buy cryptocurrencies using their Revolut accounts or cards through Ledger Live. Most customer funds are stored in cold storage with 24/7 encrypted chat support, while advanced risk monitoring tools prevent account takeovers. The platform integrates a Crypto Learn tool to improve crypto knowledge for retail users, particularly targeting first-time crypto buyers with educational resources alongside trading capabilities. Regulatory Progress and Global Expansion Plans Revolut Digital Assets Europe Ltd secured Crypto Asset Service Provider registration from Spain’s Bank of Spain and De Nederlandsche Bank in 2024 as the company works toward full MiCA authorization across the European Union. The regulatory progress comes as Revolut pursues banking licenses in 10 additional countries while planning over €1 billion in French investment through 2028, including the establishment of a Western European headquarters in Paris. The company is exploring the acquisition of a US nationally chartered bank to accelerate its entry into the American market, bypassing the lengthy charter application process that can take years. Revolut currently serves 60 million customers globally, with 12 million based in the UK, though crypto services remain suspended in the United States since October 2023 due to regulatory uncertainty. Founder and CEO Nik Storonsky secured new investment in 2024 through a secondary share sale at a $45 billion implied valuation. Recent reports also suggest the company is in talks for a $1 billion fundraising round that would value the fintech at approximately $65 billion. The company is also reportedly considering a dual listing in London and New York, which could position it among the top 15 most valuable firms on the London Stock Exchange and make it the first company to simultaneously join the FTSE 100 and list in New York

Tether's Q3 report confirms sufficient reserves backing issued USDT. The company has diversified investments beyond digital finance. Continue Reading:Tether Dominates Digital Dollar Arena with Impressive Growth The post Tether Dominates Digital Dollar Arena with Impressive Growth appeared first on COINTURK NEWS.