CandleFocus Could Robinhood and Revolut Find Stablecoin Success Where PayPal Stumbled?
2024-09-28
Author: Content Editor
Fintech giants Robinhood and Revolut are reportedly considering launching their own stablecoins, as they eye the stablecoin market currently dominated by Tether. While neither company has confirmed their plans, both have been making moves in the stablecoin space, with Robinhood listing Circle's USDC and Revolut launching staking services for major tokens. However, breaking into the stablecoin market will prove challenging, as Tether's dominance, liquidity, and established trust pose significant barriers for new entrants. Other major players such as PayPal, JPMorgan Chase, Meta (Facebook), and Binance have also faced challenges in competing with Tether. While Robinhood and Revolut have a chance to make an impact with their integrated retail investor platforms, they will need to leverage their global networks and scale to stand a chance against Tether's deep-rooted presence.
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