Revolut rolls out euro stablecoin in three European markets
Written by Ezra Reguerrastaff writerReviewed by Yohan Yunstaff editorThe Bridge-issued EURR token will support multiple blockchains and external wallets, with wider EEA availability expected this year.
Revolut has begun rolling out its first stablecoin, a euro-pegged token called EURR, to selected customers in Denmark, Poland and Portugal.
In an announcement shared with Cointelegraph on Wednesday, the company said that the phased rollout will expand to other European Economic Area (EEA) markets later this year, subject to product, operational and regulatory readiness.
EURR is issued by Bridge Building S.A., the Luxembourg-based entity of Stripe-owned stablecoin infrastructure company Bridge. Revolut said EURR will be integrated into its retail app, supported across multiple blockchain networks and transferable to external wallets.
The launch adds a Markets in Crypto-Assets (MiCA)-compliant stablecoin to Revolut as it withdraws Tether’s USDt from the EEA and Switzerland. Revolut previously said remaining USDT balances would be converted into customers’ base currencies after Aug. 31.
EURR is designed to maintain a value of one euro and is backed by reserves held and managed by Bridge in accordance with the European Union’s MiCA rules. Revolut Digital Assets Europe is offering the token.
Revolut said EURR is the first step in a broader stablecoin strategy and that it is developing tokens denominated in other currencies through separate regulatory pathways. The company did not identify which currencies it is pursuing.
Related: Revolut receives in-principle approval from UAE authorities for crypto services
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