Revolut Launches Euro-Pegged EURR Stablecoin

In brief

• Revolut has begun a phased rollout of EURR, a euro-pegged token, to selected customers in three EEA markets.
• The token is issued by Bridge Building S.A., a Stripe subsidiary licensed in Luxembourg, with Revolut distributing it through its app.
• Revolut says wider EEA availability and stablecoins in other currencies will follow this year.

Neobank Revolut has started rolling out a euro-backed stablecoin to a selected group of customers in Denmark, Poland and Portugal, the fintech said in an announcement on Wednesday, in the first concrete product from a stablecoin plan it announced more than a year ago.

The token, EURR, is designed to hold a value of €1 and is integrated into Revolut's retail app, giving customers a way to move between euros and crypto on-chain. It will run on several blockchains and work with external wallets, and Revolut said a wider EEA rollout and other currency-denominated tokens are expected later this year, subject to regulatory readiness.

EURR is issued by Bridge Building S.A., a Luxembourg entity licensed by the CSSF as both a crypto asset service provider and an electronic money institution, and owned by Bridge, the stablecoin infrastructure firm Stripe agreed to buy for $1.1 billion in October 2024, in a deal that closed the following February. Bridge holds and manages the reserves. Revolut's role is distribution, through a Cyprus-regulated subsidiary licensed under MiCA.