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. It will run on several blockchains and work with external wallets, and Revolut said a wider EEA rollout and other currency-denominated tokens are expected later this year, subject to regulatory readiness.
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. Bridge holds and manages the reserves. Revolut’s role is distribution, through a Cyprus-regulated subsidiary licensed under MiCA.
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. In May, its president Christine Lagarde said that they were “not an efficient way” to strengthen the euro’s international role, warned of “structural weaknesses as a foundation for settlement” and flagged two material risks: sudden redemption pressure on private liabilities, and weaker transmission of policy rates if deposits migrate out of banks. Roughly 98% of the $317 billion stablecoin market was dollar-denominated at the time.
Brussels is meanwhile preparing to revise MiCA in 2027 to capture foreign issuers, a question with some bearing on a euro token whose issuer sits in Luxembourg under American ownership.
Revolut confirmed plans for its own stablecoin in mid-2025, secured a UK banking license this year, and was among the firms selected for the Bank of England’s digital securities work on sterling stablecoins. The release says further tokens are being developed “through separate regulatory pathways,” suggesting that the Bridge arrangement may be specific to the euro.
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