Neobank Revolut has begun rolling out a euro-backed stablecoin named EURR to a selected group of customers in Denmark, Poland, and Portugal. The rollout represents the first concrete product from a stablecoin initiative the fintech company announced over a year ago.
Designed to maintain a value of €1, the EURR token is integrated directly into Revolut's retail application, allowing users to move between euros and crypto on-chain. The token operates across several blockchains and supports external wallets. Revolut announced that a wider European Economic Area rollout, along with additional currency-denominated tokens, is expected later in the year, pending regulatory readiness.
The EURR token is issued by Bridge Building S.A., a Luxembourg-based entity licensed by the CSSF as both a crypto asset service provider and an electronic money institution. Bridge Building S.A. is owned by Bridge, a stablecoin infrastructure firm that Stripe acquired for $1.1 billion in a deal announced in October 2024 and finalized the following February. Bridge holds and manages the token reserves, while Revolut handles distribution via a Cyprus-regulated subsidiary licensed under the Markets in Crypto-Assets (MiCA) regulation.
Emil Urmanshin, Revolut's head of crypto and new bets, stated that the token connects the company's 80 million customers to on-chain finance and provides real-world stablecoin utility.
The launch of euro-denominated stablecoins comes amid caution from the European Central Bank. European Central Bank President Christine Lagarde previously expressed skepticism regarding whether stablecoins effectively strengthen the international role of the euro, highlighting concerns surrounding structural settlement weaknesses, sudden redemption pressure, and the potential migration of deposits out of traditional banks. At the time, approximately 98% of the $317 billion stablecoin market was denominated in U.S. dollars.
Meanwhile, Brussels is preparing to revise the MiCA framework in 2027 to address foreign issuers. Revolut previously confirmed plans for its own stablecoin in mid-2025, secured a UK banking license, and participated in the Bank of England's digital securities initiatives concerning sterling stablecoins. The company has indicated that further tokens are being developed through separate regulatory pathways.
