Revolut Enters Euro Stablecoin Fray with EURR Launch

Revolut has entered the global stablecoin market by launching its first euro-backed token, EURR. The company made the move on August 26, initially targeting customers in Denmark, Poland, and Portugal.

The new stablecoin is issued by Bridge Building S.A., a Luxembourg-based entity owned by Stripe's Bridge. Bridge secured its MiCA authorization just 19 days before launching EURR, becoming the 42nd company to obtain an electronic-money-token register approval from the EU.

However, Revolut's EURR faces competition in terms of naming as it shares the same ticker with a different euro stablecoin issued by StablR. The latter has been trading since 2024 and saw its value drop to $0.85, or 26% below its peg, following a $13.5 million exploit in May.

Revolut's decision to launch EURR comes as the company adjusts its European crypto offerings to comply with MiCA requirements. The European Central Bank has expressed concerns over euro-backed tokens expanding across the market, raising questions about monetary sovereignty and payment infrastructure.