Revolut Unveils Euro Stablecoin as ECB Prepares Digital Euro Rollout

The European Central Bank has strengthened its commitment to privacy for a potential digital euro. Meanwhile, Revolut has begun rolling out its first euro-backed stablecoin, EURR, in Denmark, Poland, and Portugal.

EURR is issued by Bridge, which is owned by Stripe, and initially runs on Ethereum. Wider availability across the European Economic Area markets is planned for later this year.

The ECB's Piero Cipollone stated that the digital euro would offer the maximum level of privacy currently achievable with existing technology. Offline payments using the digital euro would only be visible to the payer and recipient, while banks would retain information required for compliance.