65 Million Revolut Users Can Now Swap Stablecoins at Zero Cost

Core Insights - Revolut has removed all fees and spreads for converting between USD and major stablecoins USDT and USDC, allowing users to exchange up to €500,000 every 30 days at a 1:1 rate [1][2] - The company's wealth division reported a revenue of £506 million in 2024, marking a 298% year-over-year growth driven by increased crypto trading activity and the launch of Revolut X [2][3] - Revolut achieved record financial results in 2024, surpassing $1 billion in annual profit with net earnings of £1.1 billion, a 149% increase from the previous year [4] Revenue and Financial Performance - Total revenue increased by 72% to £3.1 billion, with subscription services rising by 74% to £423 million and the loan book expanding by 86% to £979 million [5] - The surge in revenue was primarily attributed to the successful launch of Revolut X, a standalone trading platform for professional traders, offering competitive trading fees [3] Platform Expansion and Strategic Partnerships - Revolut expanded its platform to 30 additional European countries in November 2024, providing advanced trading tools and analytics [4] - The company launched Revolut Ramp in March 2024, partnering with Consensys to enable crypto purchases in Web3 wallets, and partnered with Ledger in August to allow cryptocurrency purchases through Ledger Live [6]