European Bank Revolut Taps Ethereum Network Polygon for Remittances, Stablecoin Payments
Revolut, a major European fintech firm with more than 65 million users, has partnered with Ethereum scaling network Polygon to enable crypto remittances and stablecoin payments (USDC, USDT, POL) via the Revolut app for users in the UK and EEA. Since its integration in December, Polygon has facilitated over $690 million in trading volume through Revolut. The collaboration streamlines blockchain payments, making them “invisible” to end users and accessible alongside traditional payment experiences, enhancing speed and cost-efficiency. Revolut users can trade POL and onboard fiat to Polygon via Revolut Ramp. The firm, which ended U.S. crypto trading in 2023 due to regulation, recently obtained a MiCA license in Cyprus, fueling speculation about a potential proprietary stablecoin launch. Polygon currently hosts over $3.2 billion in stablecoins, about 1% of the global market.
