What happened? Revolut removed fees and spreads for USD to USDT/USDC swaps, offering exact 1:1 conversions.
The fintech now lets users convert up to €500,000 every rolling 30 days with no markup and supports transfers across six blockchains like Ethereum, Solana and Tron. This makes moving between fiat and major stablecoins as easy and transparent as Revolut’s traditional forex conversions.
Who does this affect? Revolut’s 65 million customers, crypto traders and competing exchanges are the main parties impacted.
Retail users and high-volume traders using Revolut for on- and off-ramps will see lower costs and simpler flows, while professional traders on Revolut X benefit from cheaper conversions. At the same time, exchanges and payment providers that rely on spreads and conversion fees will face pressure, and US users remain largely unaffected because crypto services are still suspended there.
Why does this matter? It could shift market dynamics by increasing stablecoin liquidity, forcing competitors to cut fees, and accelerating fiat-to-crypto adoption.
Removing conversion markups and supporting multi-chain transfers makes stablecoins cheaper and easier to use, which can boost volumes and push other platforms to match prices or improve their rails. That pressure could reduce fee revenue for exchanges, raise competition on liquidity and services, and speed up broader retail and institutional use of stablecoins for payments and trading.