Revolut announced on Tuesday that it integrated Polygon to support stablecoin payments, remittances, and trading, having processed more than $690 million since December 2024. The rollout covers USDC, USDT, and POL for users in the UK and EEA, enabling near-instant transfers with minimal fees. This strategic move involves Polygon Labs and signifies growing activity across the Polygon network.
Stablecoin Transfers Within Revolut
Revolut tied the expansion to rising user demand for cheaper transfers, which has led to broader Polygon use within the app. The company stated that customers can now send USDC, USDT, and POL on Polygon with settlement times measured in seconds. These transfers incur low gas fees, and Revolut absorbs eligible charges to maintain stable costs for users. Furthermore, the integration supports POL trading within Revolut and Revolut X, offering users access to staking options that provide up to 4% APY.
This development connects to Revolut Ramp, which already facilitates fiat transfers from bank accounts to Web3 wallets through Polygon PoS. Revolut highlighted that this setup eliminates the need for external exchanges and keeps transfers entirely within its system. Revolut’s crypto initiatives have been ongoing since 2017, and the company recently expanded Revolut X to all 30 EEA countries. Leonid Bashlykov, Head of Product, noted that traders utilize the platform for its extensive asset list and near-zero fees, underscoring the synergy between the exchange and the new Polygon features.
Polygon's Growing Stablecoin and Payments Adoption
Polygon Labs has experienced a surge in activity across its ecosystem as Revolut joins other companies in adopting its payment solutions. The company reported over 153 million stablecoin transactions in the past 30 days, with a stablecoin supply of approximately $3.6 billion on the blockchain network. CEO Marc Boiron stated that the Revolut integration aligns with the firm's objective of delivering everyday utility to users. This follows similar implementations by Stripe, Reliance Jio, Flutterwave, and DeCard by DCS, all of which leverage Polygon for their payment or settlement infrastructure.
Mastercard also selected Polygon to support the initial rollout of its Crypto Credential identity system for self-custody wallets. These initiatives demonstrate increasing enterprise interest in lower-cost transaction methods across Europe and other regions. Polygon's recent Rio upgrade introduced stateless block verification and other enhancements designed to support higher volume payment flows. Aishwary Gupta, Polygon’s Global Head of Payments, emphasized the company's commitment to meeting new regulatory requirements and showcasing how blockchain systems can facilitate compliant financial activities in various jurisdictions.
Fintech Adoption and Regulatory Updates
Revolut's strategic timing also coincides with recent regulatory advancements in Europe, which have provided the company with opportunities to expand its crypto offerings. The fintech firm secured a MiCA license in Cyprus, empowering it to provide regulated digital asset services throughout the region. This license also positions Revolut to explore additional products, potentially including its own stablecoin offerings.
Moreover, Revolut confirmed that its Polygon-based transfer launch in the UK extends to EEA countries outside the EU, reflecting the bloc's specific stance on certain stablecoins, including USDT. The company announced that USDC and USDT support is now fully operational on Polygon within the app, allowing users to send and receive these assets directly. This enhancement builds upon earlier internal integrations that Revolut had implemented prior to formalizing the partnership. Revolut has further solidified its crypto services by integrating Polygon for payments, transfers, and staking, connecting USDC, USDT, and POL to its app to achieve faster settlement and reduced costs. These updates are consistent with Polygon’s expanding payment footprint and Revolut’s broader strategy to broaden regulated digital asset services across Europe.