According to Bloomberg, Robinhood and Revolut are considering issuing their own stablecoins. People familiar with the matter revealed that the two companies are still evaluating the plan and have not made a final decision. A Robinhood spokesperson said the company has no immediate plans to launch a stablecoin. A Revolut spokesperson said the company plans to "further expand" its crypto product portfolio, but did not confirm whether it would launch a stablecoin. Nuri Chang, product head of BitGo, said that as more issuers enter the market, the result may be "high fragmentation of stablecoins."