@Revolut has officially begun rolling out $EURR, its first native euro-backed stablecoin, with the @0xPolygon network among its initial deployment chains. The launch marks a significant move
@Revolut has officially begun rolling out $EURR, its first native euro-backed stablecoin, with the @0xPolygon network among its initial deployment chains. The launch marks a significant move by one of Europe's largest fintech firms into regulated on-chain finance.
The EURR stablecoin is pegged to the euro and is being rolled out first to customers in Denmark, Poland and Portugal, before expanding to other parts of the European Economic Area later in the year.The token is available inside the Revolut app and through its trading platform Revolut X.
The token is issued by Stripe-owned Bridge, redeemable at 1 euro and deployed on Ethereum and Polygon. Revolut boasts over 80 million retail customers and more than 16 million crypto users.The white paper names considerably more networks as planned, among them Solana, Arbitrum, Optimism, Avalanche, Injective, TON and Sui.
The token is issued by Bridge Building S.A., a Luxembourg-based entity that forms part of Bridge, the stablecoin infrastructure provider acquired by Stripe. This arrangement ensures the product operates under the European Union's Markets in Crypto-Assets (MiCA) framework.The launch also adds a MiCA-compliant stablecoin to Revolut as it withdraws Tether's USDt from the EEA and Switzerland.
Emil Urmanshin, Head of Crypto and New Bets at Revolut, said: "EURR connects 80 million Revolut customers directly to on-chain finance. By combining our global scale and licensed banking infrastructure with instant euro-denominated access to the crypto ecosystem, we are unlocking real-world stablecoin utility that no traditional bank or crypto native can match."
Revolut said EURR is the first step in a broader stablecoin strategy and that it is developing tokens denominated in other currencies through separate regulatory pathways. The euro stablecoin segment remains relatively small but is growing quickly. Eight MiCA-compliant euro tokens grew 128% over the past year. Revolut's consumer-app scale could accelerate that trend considerably, given that no rival euro stablecoin ships inside a consumer app of that size.
Sources:CoinDesk: Revolut begins rolling out euro stablecoin EURRCoinTelegraph: Revolut Launches EURR Euro Stablecoin in EuropePayment Expert: Revolut launches euro stablecoin for select EU customers
