- 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 increase in 2024.
Revolut has launched one-to-one, fee-free conversions from USD to stablecoins, removing traditional costs and spreads and enabling the company’s 65 million users to exchange US dollars for USDT or USDC across multiple blockchains at no extra charge.
Revolut removes friction between fiat and crypto
The new feature allows Revolut customers to convert USD directly into Tether (USDT) or USD Coin (USDC) on a one-to-one basis.
Customers can swap up to $578,000—approximately €500,000—within a 30‑day period without paying commissions or spreads.
For every dollar deposited, users receive an equivalent amount of stablecoin, effectively removing price uncertainty and the conversion friction that normally accompanies 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 a destination chain without dealing with complex bridges or on‑chain processes.
The head of crypto product at Revolut, Leonid Bashlykov, described the rollout as a major step toward making crypto access seamless.
Bashlykov said the company is covering the spread internally to guarantee exact 1:1 conversions, provided the stablecoins remain pegged to the dollar.
A model built on simplicity and trust
The in‑app exchange mirrors Revolut’s earlier approach to currency conversion, which set a new standard for transparent, real‑time conversions in digital banking.
Just as Revolut normalized commission‑free forex trading a decade ago, it now aims to make stablecoin swaps equally simple and accessible.
The fintech noted that while the in‑app conversion is entirely free, standard network gas fees or withdrawal costs may still apply when tokens are moved off‑platform.
Even so, eliminating spreads and conversion fees is a rare example of a financial institution fully absorbing costs to simplify cryptocurrency adoption.
The move has meaningful implications for small and medium‑sized businesses, especially in regions facing currency instability.
Venture capitalist Elbruz Yılmaz observed that Revolut’s clean one‑to‑one ramp “turns stablecoins from a speculative asset into working capital infrastructure,” helping businesses reduce foreign exchange 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 division, which includes crypto trading, commodities and savings products.
The segment recorded a 298% increase in revenue in 2024, reaching £506 million, driven largely by growing demand for digital asset products.
Full‑year results showed a record operating profit of £1.1 billion and total revenue of £3.1 billion, highlighting Revolut’s evolution from a digital bank into a global financial powerhouse.
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 positioned the fintech as a direct competitor to established crypto exchanges.
Expansion into 30 additional 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 digital asset adoption but also redefined what a modern neobank can offer.
In doing so, it positions itself at the intersection of traditional banking and the rapidly evolving decentralized financial future.