Revolut, a London-based fintech company that offers cryptocurrency trading, intends to issue its own stablecoin, according to four people who have heard about the plan.

The company, which snagged a U.K. banking license in July and was valued at $45 billion earlier this year, is said to be quite far along in creating the stablecoin, according to two of the people.

Asked about its stablecoin plans, a spokesman for Revolut said the firm wants to expand its crypto offering, taking a compliance-first approach to become a safe harbor for the entire crypto community.

“Crypto is a big part of our belief in banking without borders and we have a clear mission to become the safest and most accessible provider of crypto asset services,” the spokesman said in an email.

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