Revolut Plans To Launch Stablecoin: 'Crypto Is Part Of Our Belief In Banking Without Borders'
Portfolio Pulse from Murtuza Merchant
Revolut, a London-based fintech company, is planning to launch its own stablecoin as part of its mission to enhance cryptocurrency offerings. The stablecoin market is currently dominated by Tether, with new entrants like PayPal and Ripple. Revolut aims to become a leading provider of crypto asset services.
September 18, 2024 | 3:35 pm
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NEUTRAL IMPACT
PayPal is mentioned as a new entrant in the stablecoin market, which is currently dominated by Tether. Revolut's entry into this market could increase competition.
Revolut's entry into the stablecoin market introduces more competition for PayPal, which is also a new entrant. However, the immediate impact on PayPal's stock may be neutral as the market is still evolving.
CONFIDENCE 80
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RELEVANCE 50