Revolut Ltd. has launched EURR, a new stablecoin pegged to the euro, for eligible customers in three European markets [1].
The move signals a strategic push by one of the world's largest fintech apps to integrate blockchain-based assets into daily finance. By offering a stablecoin, Revolut aims to streamline cross-border payments and expand the utility of digital money within the European Economic Area [2].
The rollout began Wednesday for selected customers in Denmark, Poland, and Portugal [3]. Approximately 2 million customers are currently eligible to access the token [4]. The company expects to expand availability to other EEA markets later this year [5].
To manage the issuance of the token, Revolut is partnering with Bridge, a company owned by the payments giant Stripe [1]. This partnership ensures the technical infrastructure for the stablecoin is handled by a specialized issuer. To maintain the peg to the euro, the reserves for EURR are held by a Luxembourg subsidiary of Stripe [6].
Stablecoins are digital assets designed to maintain a steady value by being backed by a reserve of traditional currency or other assets. While the market has been dominated by U.S. dollar-pegged tokens, the launch of EURR introduces a direct euro-backed alternative for Revolut users [2].
The expansion into digital assets comes as the stablecoin market grows globally. Revolut intends for EURR to enable more efficient movement of funds across borders, reducing the friction typically associated with traditional banking rails [2].
“Revolut has launched EURR, a new stablecoin pegged to the euro.”
The introduction of EURR represents a shift toward institutionalizing euro-denominated stablecoins, which have historically lagged behind dollar-pegged assets. By leveraging Stripe's Bridge for issuance and utilizing a Luxembourg-based reserve structure, Revolut is attempting to bridge the gap between traditional fiat banking and decentralized finance while adhering to European regulatory environments.
