TechFlow news, on September 27, according to Bloomberg, fintech giants Robinhood and Revolut are considering issuing their own stablecoins to enter the rapidly growing $170 billion stablecoin market. Sources familiar with the matter said both companies are still evaluating the plans and have not made final decisions. A Robinhood spokesperson stated there is currently "no plan" to launch a stablecoin but did not rule out the possibility. A Revolut spokesperson said the company intends to "further expand" its crypto offerings. Analysts believe the EU's upcoming MiCA regulations could boost stablecoin development in the region. The rules will be fully implemented by the end of 2024, establishing specific requirements for stablecoin issuers, including licensing agreements and strict reserve management mandates.
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