European Bank Revolut Taps Ethereum Network Polygon for Remittances, Stablecoin Payments

Revolut, a major European fintech firm, is collaborating with the Ethereum scaling network Polygon to facilitate stablecoin payments and crypto remittances through the Revolut app. Since its integration in December, Polygon has enabled Revolut to process over $690 million in trading volumes. This partnership allows Revolut's users in the UK and European Economic Area to make remittances using stablecoins like USDC and USDT, as well as Polygon’s native token, POL. Polygon Labs CEO Marc Boiron emphasized that this integration is a step toward mainstream finance by simplifying blockchain payments for everyday users. The collaboration demonstrates compliance with evolving regulations, showcasing how fintech and banks can operate together within the blockchain ecosystem. Despite facing market challenges, including significant price dips in cryptocurrencies, Revolut continues to expand its offerings, having secured a MiCA license in Cyprus earlier this year. Polygon hosts more than $3.2 billion in stablecoins and aims for further growth in blockchain payment infrastructure.

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