Revolut Enters Euro Stablecoin Market with EURR Launch
Revolut has entered the crowded digital currency market by launching its first euro-pegged stablecoin, EURR. The token is being introduced in phases to select customers in Denmark, Poland and Portugal.
The launch marks Revolut's formal entry into a rapidly expanding market for regulated digital currencies. Each EURR token is redeemable at face value against Bridge, with reserves held in segregated bank accounts or highly liquid euro-denominated instruments.
Revolut Digital Assets Europe Ltd acts as the sole distributor, offering the token through Revolut's retail app and its Revolut X trading platform. The launch comes amid a broader push by European banks and fintechs into euro stablecoins, following moves by Circle, Germany's AllUnity, and a consortium of banks including BNP Paribas, ING and UniCredit under the Qivalis project.
Revolut has also previously trialled a sterling-pegged stablecoin and signalled plans for a dollar-backed token as part of its wider crypto ambitions.