- Revolut users can now swap USD for USDT or USDC with no fees.
- The service supports six major blockchains, including Ethereum and Solana.
- Revolut’s crypto unit increased revenue by 298% in 2024.
Revolut has rolled out fee-free 1:1 conversions from USD to stablecoins, removing traditional costs and spreads. The change allows the company’s 65 million users to convert U.S. dollars into USDT or USDC across multiple blockchains without paying extra fees.
Revolut removes friction between fiat and crypto
The new feature lets Revolut customers convert USD directly into Tether (USDT) or USD Coin (USDC) on a genuine one-to-one basis.
Users can swap up to $578,000 (roughly €500,000) within a rolling 30-day period with no fees or spreads applied.
For every dollar deposited, customers receive an equivalent stablecoin amount, effectively eliminating price uncertainty and conversion friction that typically come with moving between fiat and crypto.
The service supports transactions across six major blockchain networks, including Ethereum, Solana, and Tron, offering users flexible routing options.
The app handles the technical steps automatically, letting customers pick their destination chain without managing complex bridging or on-chain settlement processes.
Revolut’s crypto product lead, Leonid Bashlykov, described the launch as a significant move toward seamless crypto access.
Bashlykov said the company absorbs the spread internally to guarantee exact 1:1 conversions, provided the stablecoins maintain their dollar pegs.
A model built on simplicity and trust
Revolut’s in-app swap function mirrors the company’s earlier approach to foreign exchange, which set a new standard for transparent, real-time conversions in digital banking.
Just as Revolut made commission-free currency exchange mainstream a decade ago, it now aims to make stablecoin swaps equally simple and accessible.
The fintech clarified that while in-app conversions are entirely free, standard network gas fees or withdrawal charges may still apply when tokens leave the platform.
Even so, the elimination of spreads and conversion fees is a rare example of a financial institution fully absorbing costs to simplify crypto adoption.
The implications are especially meaningful for small and medium-sized businesses, particularly in regions with volatile currencies.
Venture investor Elbruz Yılmaz noted that Revolut’s clean one-to-one ramp “transforms stablecoins from a speculative asset into working capital infrastructure,” helping businesses reduce currency losses and accelerate payment cycles.
Revolut builds on strong momentum for its crypto unit
The launch follows a strong year for Revolut’s wealth division, which includes crypto trading, commodities, and savings.
The segment increased revenue by 298% in 2024, reaching £506 million, largely driven by rising demand for digital asset products.
The company’s full-year results showed record operating profit of £1.1 billion and total revenue of £3.1 billion, underscoring its evolution from a digital bank into a global financial powerhouse.
Much of that momentum came from Revolut X, the firm’s professional brokerage launched in 2024.
By offering over 100 tokens with zero maker fees and minimal taker fees, Revolut X positioned the fintech as a direct competitor to established crypto exchanges.
Expansion into 30 European countries later that year further strengthened the company’s regional presence.
With its new 1:1 stablecoin conversion, Revolut has not only removed a major barrier to using digital assets but also redefined what a modern neobank can provide.
In doing so, it positions itself at the intersection of traditional banking and the rapidly emerging decentralized financial future.