Revolut Launches Euro Stablecoin in Denmark, Poland, and Portugal

Revolut has started rolling out its first stablecoin, a euro-pegged token called EURR, to selected customers in Denmark, Poland and Portugal. In an announcement, the company said the launch is being introduced gradually and is expected to expand to additional European Economic Area (EEA) markets later this year, depending on product, operational and regulatory readiness.

EURR is issued by Bridge Building S.A., the Luxembourg-based entity of Bridge, a stablecoin infrastructure company owned by Stripe. Revolut plans to integrate the token directly into its retail app, with support for multiple blockchain networks and transfers to external wallets.

The launch gives Revolut a Markets in Crypto-Assets (MiCA)-compliant stablecoin as the company removes Tether’s USDT from the EEA and Switzerland. Revolut previously said any remaining USDT balances would be converted into customers’ base currencies after Aug. 31. “Denmark, Poland, and Portugal were selected for their market size, where approximately 2 million customers will be involved in the initial rollout,” a Revolut spokesperson said.

EURR launches on Ethereum first

EURR will initially be available on Ethereum as part of the phased rollout. “External wallet transfers will be available immediately for select customers and more broadly as liquidity builds,” the spokesperson said.

Revolut’s existing crypto trading and remittance limits will apply to EURR, while fiat transactions involving the token will carry no fees or spreads. The stablecoin is designed to maintain a one-to-one value with the euro and is backed by reserves held and managed by Bridge in line with MiCA requirements. Revolut Digital Assets Europe is responsible for offering EURR to customers.

Revolut expands its stablecoin strategy

The company said EURR represents the first stage of a wider stablecoin strategy. Revolut is also developing stablecoins denominated in other currencies through separate regulatory frameworks, although it has not disclosed which currencies it plans to target. The move reflects Revolut’s broader effort to expand its digital asset services while aligning its stablecoin offering with the EU’s evolving regulatory environment.

Sources:

https://cointelegraph.com/news/revolut-eurr-euro-stablecoin-europe-rollout

https://www.revolut.com/en-SK/blog/post/revolut-stablecoins-eurr-eea/