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Revolut Eyes Stablecoin Launch Following MiCA License Approval

Revolut has recently secured a Markets in Crypto-Assets (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC), enabling the digital bank to offer crypto services across the European Economic Area.

This license could lead to Revolut providing extensive crypto-asset services under a legal framework that allows for “passporting” throughout the EU, although individual state scrutiny might still be necessary.

Additionally, the company announced plans to introduce a direct conversion between stablecoins and USD at a 1:1 ratio, eliminating spreads.

Costas Michael, CEO of Revolut Digital Assets Europe, emphasized that the MiCA license is crucial for their ambitious future in the crypto sector.

Rumors are swirling that Revolut may be on the verge of launching its own stablecoin, a topic that has ignited speculation for over a year.

Legal experts suggest that with the MiCA approval, a Revolut stablecoin by 2026 is feasible, particularly as the regulatory framework becomes fully operational.

However, obtaining a MiCA license alone does not authorize the issuance of stablecoins; specific regulations under MiCA are tightly defined.

Revolut's existing EMI license in Lithuania provides a pathway to issue a stablecoin, contingent on meeting various compliance standards and guidelines.

Industry experts indicate that many organizations are eyeing stablecoin projects, though the compliance costs may deter smaller institutions from moving forward.

As Revolut sets the stage for potential stablecoin development, it has created a blueprint for others in the financial sector to follow.