Trading platform Robinhood and digital bank Revolut are considering launching their own stablecoins, Bloomberg reports. The companies are betting on the weakening of USDT issuer Tether due to stricter regulations in Europe and other countries.
However, both companies may abandon this idea. A Robinhood representative stated that the platform has no immediate plans to launch a stablecoin. Revolut, on the other hand, is focused on expanding its crypto product lineup but did not confirm plans to launch a stablecoin.
Previously, Revolut launched a crypto exchange for experienced traders, and Robinhood recently announced its acquisition of Bitstamp for $200 million, with the deal expected to close in 2025.