Revolut US bank plans stablecoins alongside FDIC-insured accounts: Report
Reuters reported that Revolut plans to integrate stablecoins into its future US bank as more fintech and crypto companies chase federal banking approvals.
Fintech company Revolut plans to offer stablecoins through its future US bank, Reuters reported Wednesday, citing comments from the company’s US CEO, Cetin Duransoy.
Duransoy told the news service that customers of the bank, which is expected to launch next year, will have access to FDIC-insured accounts, multi-currency deposits, stock trading and cryptocurrency services. He said that Revolut plans to initially target retail and business customers with international banking needs, including those managing multiple currencies.
Revolut applied for a US national bank charter in March, which would allow the company to offer federally insured banking products nationwide under a single federal regulatory framework.