Revolut has begun rolling out its first stablecoin, a euro-pegged token called EURR, to select customers in Denmark, Poland and Portugal. The gradual distribution will extend over the course of the year to other European Economic Area (EEA) markets, subject to product, operational and regulatory readiness. The new digital currency arrives as Europe's crypto-asset regulation enters full application.
EURR is issued by Bridge Building S.A., the Luxembourg-based entity of stablecoin infrastructure firm Bridge, owned by Stripe. The token will be integrated into the Revolut app for retail customers, supported on multiple blockchain networks and transferable to external wallets. EURR is designed to hold a value of one euro and is backed by reserves held and managed by Bridge in line with the European Union's MiCA rules. The token is offered by Revolut Digital Assets Europe, which holds a licence from Cyprus's CySEC regulator.
The launch comes as Revolut removes Tether's USDt from the EEA and Switzerland. As reported by the sources, European customers could no longer buy USDT from July 6, and remaining balances are converted into customers' base currencies after August 31. EURR therefore gives Revolut a MiCA-compliant asset at the exact moment non-compliant dollar stablecoins are being stripped from its retail offering.