Revolut Launches Euro-Pegged EURR Stablecoin
In brief Revolut has begun a phased rollout of EURR, a euro-pegged token, to selected customers in three EEA markets. The token is issued by Bridge Building S.A., a Stripe subsidiary licensed in Luxembourg, with Revolut distributing it through its app.
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Key Facts
- Fact 1: The token, EURR, is designed to hold a value of €1 and is integrated into Revolut's retail app, giving customers a way to move between euros and crypto on-chain.
- Fact 2: EURR is issued by Bridge Building S.A., a Luxembourg entity licensed by the CSSF as both a crypto asset service provider and an electronic money institution, and owned by Bridge, the stablecoin infrastructure firm Stripe agreed to buy for $1.1 billion in October 2024, in a deal that closed the following February.
- Fact 3: Emil Urmanshin, Revolut's head of crypto and new bets, said the token connected the company's 80 million customers to on-chain finance and unlocked "real-world stablecoin utility that no traditional bank or crypto native can match." The ECB and stablecoins Euro stablecoins arrive with the European Central Bank unconvinced.
- Fact 4: Roughly 98% of the $317 billion stablecoin market was dollar-denominated at the time.
In brief Revolut has begun a phased rollout of EURR, a euro-pegged token, to selected customers in three EEA markets. The token is issued by Bridge Building S.A., a Stripe subsidiary licensed in Luxembourg, with Revolut distributing it through its app.
Revolut says wider EEA availability and stablecoins in other currencies will follow this year. Neobank Revolut has started rolling out a euro-backed stablecoin to a selected group of customers in Denmark, Poland and Portugal, the fintech said in an announcement on Wednesday, in the first concrete product from a stablecoin plan it announced more than a year ago. The token, EURR, is designed to hold a value of €1 and is integrated into Revolut's retail app, giving customers a way to move between euros and crypto on-chain.
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Original source: Decrypt
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