Key facts
- Revolut has launched its first stablecoin, EURR, a euro-pegged token.
- The stablecoin is initially available to select customers in Denmark, Poland, and Portugal.
- EURR is issued by Bridge Building S.A., a Luxembourg entity owned by Stripe's Bridge.
- The token is compliant with the EU's Markets in Crypto-Assets (MiCA) regulation.
- Revolut is withdrawing Tether's USDt from the EEA and Switzerland by August 31.
Neobank Revolut has begun a phased rollout of its euro-backed stablecoin, EURR, to select customers in Denmark, Poland, and Portugal. This marks the first product from a stablecoin plan announced over a year ago. The token, designed to hold a value of €1, is integrated into Revolut's retail app and will operate on multiple blockchains, supporting external wallets.
EURR is issued by Bridge Building S.A., a Luxembourg entity licensed as a crypto asset service provider and electronic money institution, which is part of Stripe's stablecoin infrastructure firm, Bridge. Revolut's role is distribution through its Cyprus-regulated subsidiary. The company plans wider European Economic Area (EEA) availability and other currency-denominated tokens later this year, subject to regulatory readiness.
Revolut's head of crypto, Emil Urmanshin, stated that EURR connects the company's 80 million customers to on-chain finance. This launch occurs as the European Central Bank has expressed reservations about the efficiency and risks of euro stablecoins. Concurrently, Revolut is withdrawing Tether's USDt from the EEA and Switzerland, with remaining balances to be converted to base currencies after August 31.