Revolut Taps Polygon for Crypto Remittances, Processing $690M Since Integration

Core Insights - Polygon Labs and Revolut have partnered to enable crypto payments and remittances across Europe, allowing Revolut's 65 million users to utilize stablecoin-powered money transfers [1][8] - Since the launch of this feature in December 2024, Revolut has processed over $690 million in transactions on the Polygon network [1][4] Group 1: Partnership Details - Revolut's integration allows users in the UK and the European Economic Area to send USDC, USDT, and POL via the Polygon network through the Revolut app, with transfers settling in seconds and incurring minimal gas fees [2][3] - The partnership expands Revolut's crypto offerings, including trading of POL and in-app staking with yields up to 4% APY [3][4] Group 2: Market Impact - In the last 30 days, stablecoins on Polygon processed over 153 million transactions, with the total supply of stablecoins on the network reaching $3.6 billion [4][5] - Revolut joins other institutions like Stripe and Reliance Jio in utilizing Polygon for payment infrastructure, indicating growing confidence in Polygon's performance in regulated financial environments [5][6] Group 3: Future Prospects - The partnership is seen as the first phase of a broader collaboration, with expectations for additional Web3-enabled products and ecosystem announcements [8] - This collaboration aims to enhance global money movement and bridge the gap between Web2 financial services and Web3 infrastructure, paving the way for new applications in remittances and digital asset management [8][6]