Revolut is launching its first euro-backed stablecoin as the fintech company looks to expand the use of digital assets beyond trading and into payments, transfers and other financial activity.
The token, called EURR, is initially being made available to eligible customers in Denmark, Poland, and Portugal. Revolut said it plans to expand access to other European Economic Area markets later this year.
EURR is designed to maintain a value of €1 and will give eligible customers an on-chain way to move between euros, crypto, external wallets and supported blockchain networks. The token will be integrated into the Revolut app.
Revolut described EURR as the first stage of a broader stablecoin strategy, with tokens linked to other currencies already in development.
Bridge to issue and back EURR
EURR is a euro-pegged e-money token issued by Bridge Building S.A., which Revolut identified as a MiCA-regulated crypto-asset service provider and electronic money institution regulated by Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF).
Bridge will issue the token and hold and manage the reserves backing it. Revolut Digital Assets Europe Ltd., which is regulated as a MiCA crypto-asset service provider by Cyprus’s Securities and Exchange Commission (CySEC), will offer EURR to customers.
Iman Olya, Revolut’s product owner for Stablecoin, said the company wants to apply the same approach it used to reduce friction in traditional currency exchange to crypto transactions.
Revolut has also been making changes to meet new crypto regulations in Europe. The company plans to stop supporting Tether’s USDT for European customers by August 31 to comply with the European Union’s Markets in Crypto-Assets (MiCA) rules. It was one of the European platforms to delist USDT, after companies including Coinbase, Binance, Kraken, Crypto.com and OKX took similar steps.
Earlier stablecoin testing
The launch follows earlier experiments by Revolut with stablecoin technology in the UK. In February, the Financial Conduct Authority said Revolut would take part in its stablecoin sandbox alongside Monee Financial Technologies, ReStabilise and VVTX. The testing covers potential applications including payments, wholesale settlement and crypto trading.
The testing covers potential applications including payments, wholesale settlement and crypto trading. The EURR launch now moves the company toward offering stablecoin services directly to customers.
Stablecoin competition intensifies
Revolut is entering an increasingly competitive market. Traditional financial institutions, payment companies and fintech firms have been exploring stablecoins as a way to move money across borders and settle transactions more quickly and cheaply.
Visa has expanded its stablecoin settlement and payment initiatives, while Klarna has launched plans for its own stablecoin, KlarnaUSD. Several major banks are also exploring stablecoins for payments and settlement
Stablecoin growth has also shown signs of slowing in 2026. DeFiLlama data show the total stablecoin market cap is around $303 billion as of 09:30 UTC August 26.
Visa data designed to measure actual stablecoin usage also indicate that transaction activity has cooled compared with the surge seen since mid-2023.
Euro stablecoins remain small
The broader stablecoin market remains heavily concentrated around a handful of dollar-pegged tokens. Tether’s USDT and Circle’s USDC together account for roughly 85% of stablecoins in circulation, according to DefiLlama.
Euro-denominated stablecoins represent only a small share of the overall market, leaving room for financial firms looking to strengthen their position in European digital payments.
Revolut’s move also comes after the US introduced legislation to establish a regulatory framework for stablecoins, helping provide greater clarity around an asset class that has increasingly attracted mainstream financial companies.
For Revolut, the next step will be expanding EURR beyond its initial three markets and testing whether customers use the token for everyday crypto transfers and payments. The company has also indicated that additional currency-backed stablecoins could follow as it develops the broader strategy.
Also Read: Ripple’s RLUSD Tops $2B as Stablecoin Supply Nears $1B on XRPL
