Revolut Unveils Euro-Pegged Stablecoin EURR, Expands Crypto-Fiat Access

Revolut has launched its first stablecoin, EURR, which is pegged to the euro and integrated into the neobank's app. The new digital currency maintains a value equivalent to 1 euro and is supported by reserves held and managed by Bridge Building S.A., a subsidiary of Stripe. Initially available in Denmark, Poland, and Portugal, Revolut plans to expand access to EURR across the European Economic Area (EEA) before the end of the year.

The company aims to position itself as a link between traditional money services and crypto assets with the introduction of EURR. The neobank sees stablecoins as a way to streamline trading, settlement, and capital movement over blockchain networks. As digital assets integrate with conventional finance, these stable currencies can extend to broader uses, such as international transfers, payments between businesses, or the settlement of financial operations.

Revolut's Director of Crypto and New Bets, Emil Urmanshin, emphasized that EURR directly connects 80 million Revolut customers with 'on-chain' financing. By combining their global scale and regulated banking infrastructure with instant access in euros to the crypto ecosystem, the neobank aims to facilitate easier transactions between fiat money and cryptocurrencies.