Revolut Launches Euro-Denominated Stablecoin EURR for On-Chain Transactions
Revolut is launching its first stablecoin, EURR, designed to bring local currency on-chain. The euro-denominated token will allow customers to move between fiat and blockchain networks without taking on dollar exposure.
The company has more than 75 million customers across over 40 markets and sees stablecoins as a natural extension of its approach to making money move faster. EURR is initially available in Denmark, Poland, and Portugal, launching on Ethereum through Bridge Building, a Stripe company.
Revolut's Head of Product · Crypto, Leonid Bashlykov, commented: 'Today we are beginning the phased rollout of EURR, a EUR-denominated stablecoin.'
EURR is fully integrated into Revolut and will provide customers with an on-chain option for moving between fiat, crypto, external wallets, and supported blockchain networks. The introduction of EURR aims to give customers access to euro-denominated value on-chain without the need for dollar exposure.