Robinhood, Revolut Reportedly Looking To Rival Tether With Stablecoin Launches

Robinhood Markets Inc. (NASDAQ:HOOD) and Revolut Ltd. are reportedly exploring the possibility of entering the $170 billion stablecoin market, which could challenge the dominance of incumbent Tether (CRYPTO: USDT).

What Happened: Bloomberg cites sources familiar with the matter that both Robinhood and Revolut are looking into launching their own stablecoins, although they may ultimately decide against it.

The stablecoin market is currently dominated by Tether’s USDT, which has a circulation of almost $120 billion, ahead of Circle’s (CRYPTO: USDC), which has a valuation of $36 billion. To diversify, Tether is branching out to other markets, having recently launched a

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