Revolut and Nubank Adopt 'Rent the Coin' Model for Stablecoin Offerings

Fintech giants Revolut and Nubank are launching stablecoins under their own brands without acting as the issuers. Revolut recently received preliminary approval for a U.S. bank charter, which specifies that it will not manage reserves for its branded stablecoins. Similarly, Revolut's EURR stablecoin is issued by Bridge Building S.A., a subsidiary of Stripe. This trend indicates that stablecoin economics are increasingly aligning with customer relationships rather than the underlying token issuers.