- Revolut users can now convert USD to USDT or USDC with no fees.
- The service supports six major blockchains, including Ethereum and Solana.
- Revolut’s crypto unit drove a 298% revenue jump in 2024.
Revolut has launched fee-free, 1:1 USD-to-stablecoin conversions, removing traditional costs and spreads and enabling the company’s 65 million users to swap US dollars for USDT or USDC across multiple blockchains with no extra charge.
Revolut eliminates friction between fiat and crypto
This new feature allows Revolut customers to convert USD directly to Tether (USDT) or USD Coin (USDC) at a true one-to-one rate.
Users can convert up to $578,000 (about €500,000) within a rolling 30-day period without paying any fees or spreads.
For every dollar deposited, customers receive an equivalent amount of stablecoin, effectively removing pricing concerns and conversion friction that usually arise when moving between fiat and crypto.
The service supports transactions across six major blockchain networks, including Ethereum, Solana and Tron, giving users flexible routing options.
The app handles the technical steps automatically, allowing customers to pick their destination chain without dealing with complex bridges or on-chain settlement details.
Leonid Bashlykov, Revolut’s Head of Crypto Product, described the launch as a major step toward making crypto access seamless.
Bashlykov said the company absorbs spreads internally to guarantee precise 1:1 conversions, provided the stablecoins maintain their dollar pegs.
A model built on simplicity and trust
The in-app conversion feature reflects Revolut’s earlier approach to foreign exchange, setting a new standard for real-time transparent conversions in digital banking.
Just as Revolut helped make FX trading commission-free a decade ago, it now aims to make stablecoin conversions equally simple and accessible.
Fintech clarified that while in-app exchanges are entirely free, standard network gas fees or withdrawal costs may still apply when tokens move off-platform.
Even so, removing spreads and conversion fees represents a rare example of a financial institution absorbing costs fully to streamline crypto usage.
The impact is especially meaningful for small and medium-sized businesses, particularly in regions facing currency instability.
Venture capitalist Elbruz Yılmaz said Revolut’s clean one-to-one ramp “reframes stablecoins from a speculative asset into working capital infrastructure,” helping businesses reduce FX losses and speed up payment cycles.
Revolut builds on strong performance from its crypto unit
The launch follows a strong year for Revolut’s wealth segment, which includes crypto trading, commodities and savings.
This segment recorded a 298% revenue surge in 2024, reaching £506 million, largely driven by growing demand for digital asset products.
The company’s full-year results showed record operating income of £1.1 billion and total revenue of £3.1 billion, underscoring its evolution from a digital challenger bank into a global financial player.
Much of that momentum came from Revolut X, the firm’s professional trading platform launched in 2024.
Offering more than 100 tokens with zero maker fees and minimal taker fees, Revolut X positions the fintech as a direct competitor to established crypto exchanges.
Its expansion into 30 European countries by year-end further strengthened the company’s regional footprint.
By introducing fee-free 1:1 stablecoin conversions, Revolut has not only removed a major barrier to digital asset adoption but also redefined what a modern neobank can offer.
In doing so, it places itself at the crossroads of traditional banking and an emerging decentralized financial future.