Revolut Launches Euro Stablecoin for Select European Users
Revolut has launched its first euro-denominated stablecoin, EURR, which will allow select European customers to have a tokenized route between euros and crypto markets. The initial rollout covers eligible users in Denmark, Poland, and Portugal, with wider availability planned later this year.
The company says EURR is designed to maintain a one-to-one value with the euro and can be redeemed at par through its regulated issuer, Bridge Building S.A., which received MiCA authorization in Luxembourg earlier this year. Revolut Digital Assets Europe Ltd acts as the offeror and is admitting EURR for trading on Revolut X.
EURR reserves are held separately from operating funds, while holders can redeem the token against Bridge Building at €1 for each EURR, subject to the applicable redemption process. The structure puts the regulated issuer and the consumer distribution layer in separate entities.
Revolut plans to expand EURR to additional European markets later this year and develop stablecoins linked to other fiat currencies. The company has positioned the tokens for uses extending beyond crypto trading, including cross-border payments and business transfers.