Fintech Giant Revolut Launches Euro-Backed Stablecoin 'EURR' on Blockchain
Global financial technology firm Revolut has officially introduced its first euro-denominated stablecoin, named EURR, expanding its digital asset offerings to its 80 million retail users. The initiative marks a significant milestone in integrating decentralized blockchain infrastructure into mainstream banking applications under the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework.
Issued in collaboration with Bridge Building S.A., a Luxembourg-based electronic money institution owned by payment giant Stripe, EURR is pegged 1:1 with the euro. The reserves are backed by fully segregated cash deposits in regulated European banks. Built on both the Ethereum and Polygon network layers, the stablecoin enables users to effortlessly move capital between traditional fiat money, cryptocurrencies, and external Web3 wallets without incurring traditional foreign exchange friction.
Revolut has kicked off a phased rollout of EURR across key initial markets including Denmark, Poland, and Portugal, with broader availability across the European Economic Area expected shortly. Simultaneously, Revolut is phasing out support for unbacked stablecoins like USDT for European users to ensure strict alignment with MiCA compliance. Industry analysts view Revolut’s custom stablecoin rollout as a landmark shift, transforming a traditional digital banking app into a direct, regulated gateway for global crypto-fiat transactions.
