According to TechFlow, on September 27, Bloomberg reported that financial technology giants Robinhood and Revolut are considering issuing their own stablecoins to enter the fast-growing $170 billion stablecoin market. 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 there are "no plans" to issue stablecoins at present, but did not deny the possibility. A Revolut spokesperson said it plans to "further expand" its crypto products. Analysts believe that the EU's upcoming MiCA regulations may promote the development of stablecoins in the region. The regulations will take full effect at the end of 2024 and set specific rules for stablecoin issuers, including licensing agreements and strict reserve management requirements.