Revolut Rolls Out Euro Stablecoin Amid MiCA-Driven Expansion

Revolut, a fintech company, has launched EURR, its first euro-pegged stablecoin, in Denmark, Poland, and Portugal. The rollout is part of Revolut's broader plan to expand its presence in Europe following the implementation of MiCA regulations.

MiCA, or Markets in Crypto Assets, requires European companies to obtain a license to issue e-money tokens. Bridge Building S.A., a Luxembourg entity owned by Stripe, issues EURR and holds both an Electronic Money Institution license and MiCA authorization from the CSSF. Revolut Digital Assets Europe Ltd. distributes EURR under its own MiCA license from the Cyprus Securities and Exchange Commission.

Revolut has removed Tether's USDt from its European retail offering by August 31, as part of a phased withdrawal that started in July. This move comes as many platforms, including Coinbase, Crypto.com, Kraken, and OKX, have already restricted or removed USDt trading pairs in Europe.

Revolut plans to expand EURR beyond its initial three markets later this year and add more networks, external wallet transfers, and support for additional currency-linked tokens. The company aims to use its existing customer base, which holds euro balances inside Revolut's app, to facilitate cross-border transfers, business payments, and settlement.