Revolut Unveils Euro-Backed Stablecoin in Key EU Markets

Revolut has launched its first euro-backed stablecoin, EURR, in Denmark, Poland, and Portugal. The token will allow customers to move money instantly on-chain, reducing their reliance on traditional banks.

The company aims to expand the use of digital assets beyond trading and into payments, transfers, and other financial activities. EURR is designed to maintain a value of €1 and will be integrated into the Revolut app.

Revolut's shift away from USDT complies with EU rules, protecting users from regulatory uncertainty. The company plans to stop supporting Tether's USDT for European customers by August 31.

The launch follows earlier experiments by Revolut with stablecoin technology in the UK. The EURR launch marks a significant step towards offering stablecoin services directly to customers.