Fintech company Revolut has initiated the rollout of its first stablecoin, a euro-pegged token named EURR, for selected customers in Denmark, Poland, and Portugal. According to an announcement shared on Wednesday, the phased rollout is scheduled to expand to additional European Economic Area (EEA) markets later this year, pending product, operational, and regulatory readiness.
The EURR token is issued by Bridge Building S.A., which is the Luxembourg-based entity of the Stripe-owned stablecoin infrastructure firm Bridge. Revolut stated that EURR will integrate directly into its retail application, gain support across multiple blockchain networks, and permit transfers to external wallets.
This launch introduces a Markets in Crypto-Assets (MiCA)-compliant stablecoin to Revolut as the company phases out Tether’s USDt from the EEA and Switzerland. Previously, Revolut announced plans to convert remaining USDT balances into customers' base currencies following August 31.
Designed to maintain a one-to-one value with the euro, EURR is backed by reserves held and managed by Bridge in alignment with the European Union’s MiCA regulations. The token is offered by Revolut Digital Assets Europe.
Revolut described EURR as the initial step in a wider stablecoin strategy. The firm indicated it is actively developing additional tokens denominated in other currencies via separate regulatory pathways, though it has not yet disclosed which specific currencies are being pursued.
