Summary

  • Revolut has initiated a gradual launch of EURR, a stablecoin pegged to the euro, targeting specific customers across three EEA countries.
  • This token is issued by Bridge Building S.A., a subsidiary of Stripe licensed in Luxembourg, with Revolut facilitating its distribution via its app.
  • The company plans to expand the availability of EURR across the EEA and introduce stablecoins in additional currencies later this year.

The neobank Revolut has commenced the phased rollout of its euro-backed stablecoin, named EURR, to a select group of users in Denmark, Poland, and Portugal. This announcement marks the first tangible product stemming from a stablecoin initiative disclosed over a year ago.

The EURR token is designed to maintain a value of €1 and is integrated within Revolut's retail application, enabling users to seamlessly transition between euros and cryptocurrencies on-chain. It will operate across multiple blockchains and will be compatible with external wallets. Revolut anticipates a broader rollout in the EEA and the introduction of other currency-based tokens later this year, contingent on regulatory approval.

We’re rolling out EURR, our first euro-backed stablecoin, in the Revolut app. pic.twitter.com/UVcns1mytF

— Revolut (@Revolut) August 26, 2026

The EURR token is issued by Bridge Building S.A., a Luxembourg-based entity licensed by the CSSF as both a crypto asset service provider and an electronic money institution. It is owned by Bridge, the stablecoin infrastructure company that Stripe agreed to acquire for $1.1 billion in October 2024, with the deal concluding the following February. Bridge is responsible for managing the reserves, while Revolut's role is to distribute the token through a Cyprus-regulated subsidiary operating under MiCA regulations.

Emil Urmanshin, Revolut's head of crypto and new ventures, emphasized that the token connects the company's 80 million customers to on-chain finance, offering "real-world stablecoin utility that no traditional bank or crypto native can match."

The ECB's Stance on Stablecoins

The launch of euro stablecoins occurs amidst skepticism from the European Central Bank (ECB). In May, ECB President Christine Lagarde stated that such stablecoins were "not an efficient way" to enhance the euro's global standing, warning of "structural weaknesses as a foundation for settlement" and highlighting two significant risks: the potential for sudden redemption pressures on private liabilities and a diminished transmission of policy rates if deposits shift away from banks. At that time, approximately 98% of the $317 billion stablecoin market was dollar-denominated.

Meanwhile, Brussels is planning to revise the MiCA regulations in 2027 to encompass foreign issuers, which could impact a euro token whose issuer operates in Luxembourg under U.S. ownership.

Revolut announced its intentions to release its own stablecoin in mid-2025, obtained a UK banking license this year, and was selected among firms for the Bank of England's digital securities initiative focused on sterling stablecoins. The announcement suggests that additional tokens are being developed "through separate regulatory pathways," indicating that the current Bridge arrangement may be unique to the euro.