Robinhood, Revolut Explore Joining $170 Billion Stablecoin Market
- Tether’s USDT accounts for over two-thirds of market value
- BitGo executive sees ‘hyper-fragmentation’ of stablecoins
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Companies from Robinhood Markets Inc. to Revolut Ltd. are considering launching stablecoins, betting that stricter regulations in Europe and elsewhere will finally loosen Tether Holdings Ltd.’s grip on the rapidly expanding $170 billion digital-asset sector.
Robinhood and Revolut, two of the most valuable fintechs, have both been kicking the tires on issuing their own stablecoins, but the firms could still opt not to proceed, said people with knowledge of the matter. They asked not to be identified discussing confidential information.