Revolut Unveils Euro Stablecoin EURR Amid MiCA Compliance Efforts

Revolut has launched its first euro-pegged stablecoin, EURR, in Denmark, Poland, and Portugal. The fintech plans to expand its reach to other European Economic Area (EEA) countries later this year.

EURR tracks the value of the euro at a fixed rate of €1 and is issued on the Ethereum blockchain. Revolut has partnered with Bridge Building S.A., a Luxembourg entity owned by Stripe, which holds an Electronic Money Institution license and MiCA authorization from Luxembourg's CSSF.

The launch comes as Revolut removes Tether's USDt stablecoin from its European retail offering by August 31. This move is in line with the EU's Markets in Crypto-Assets (MiCA) regulations, which require platforms to delist stablecoins that lack a licensed issuer.

Revolut plans to support more blockchain networks and external wallet transfers later this year. The company also aims to issue stablecoins linked to other currencies through separate regulatory routes.