Revolut Unveils First Stablecoin EURR for Euro-Denominated Transactions

Revolut has launched its first stablecoin, EURR, designed to bring local currency on-chain and provide customers with an alternative to dollar-backed assets. The euro-denominated stablecoin is fully integrated into Revolut's platform and will initially be available through a phased rollout in Denmark, Poland, and Portugal.

EURR is issued by Bridge Building, a Stripe company, and has been designed to maintain a stable value of €1.00. According to Revolut, the launch of EURR represents the first stage of its wider stablecoin plans, with more currencies already in development through separate regulatory pathways.

Revolut's Head of Product · Crypto, Leonid Bashlykov, stated that 'Today we are beginning the phased rollout of EURR, a EUR-denominated stablecoin.' Iman Olya, Product Owner of Stablecoin at Revolut, added that EURR 'completely removes the pain of moving on and off-chain.'

The company aims to expand availability to additional markets later this year, with customers able to sign up to be notified when EURR becomes available to them.