Revolut Unleashes EURR Stablecoin in European Markets

Revolut has started rolling out its euro-backed stablecoin EURR to select customers in Denmark, Poland, and Portugal. The move marks a significant step for the fintech company, which has been developing the project for almost two years.

EURR is pegged to the euro at a 1:1 ratio and runs on both Ethereum (CRYPTO:ETH) and Polygon. Bridge, a Stripe-owned company, issues the MiCA-compliant token and allows each EURR to be redeemed for €1.

The rollout comes as Revolut continues to expand its presence in the European market, with over 80 million retail customers worldwide. The company notes that more than 16 million of these already use cryptocurrency services.