Crypto-friendly Revolut is said to be quite far along in creating its own stablecoin, according to two people familiar with the plan.

Revolut has racked up another milestone in its quest to challenge Britain’s biggest banks. The fintech giant said on Friday that it now has 10 million customers in its home market, bringing the firm’s global tally up to 45 million.

Revolut reportedly plans to launch its own stablecoin, marking a major expansion amid growing competition in the stablecoin market.

Revolut to launch a stablecoin, joining PayPal & Ripple in the expanding stablecoin market, aiming to strengthen its crypto offerings.

Revolut has reached an incredible milestone in the UK, with the fintech giant now boasting 10 million customers in the country as it prepares to launch its bank

Revolut has reached ten million customers in the UK, up by 2 million since the start of the year. The UK represents Revolut’s largest market and is where the company was founded in 2015. Revolut now has over 45 million customers globally.