Crypto
Revolut Launches EURR Stablecoin for Euro Transactions
Revolut, a well-known neobank, has launched its first stablecoin called EURR. This digital asset is pegged to the euro at a ratio of 1:1 and complies with the European Markets in Crypto-Assets (MiCA) regulation.
The issuer of EURR is Bridge Building S.A., a subsidiary of Stripe, which holds a license from the Luxembourg Financial Sector Supervisory Commission. Revolut Digital Assets Europe Ltd will offer the product under the supervision of the Cyprus Securities and Exchange Commission (CySEC).
According to Revolut, the EURR stablecoin aims to simplify transactions between euros, cryptocurrencies, external wallets, and supported blockchain networks.