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ETH Stablecoin & Payments News
Revolut has begun distributing euro-pegged stablecoin called EURR to customers in Denmark, Poland and Portugal, marking the first time the company has launched such a product. The offering is scheduled to be confirmed on August 26 and will initially cover approximately 2 million customers.
EURR is issued by Bridge Building S.A., a Luxembourg subsidiary of Bridge, Stripe's stablecoin infrastructure company. Revolut Digital Assets Europe is responsible for providing EURR to customers through the company's retail application.
The token is backed by euro-denominated reserves, managed by Bridge and follows the EU Cryptographic Asset Markets Regulation (MiCA) framework. It is pegged to the euro at a 1:1 exchange rate.
EURR is launched on Ethereum and supports external wallet access.
EURR is launched on Ethereum (ETH) in the first phase. Some customers can immediately use external wallets to transfer money, and as liquidity grows, a wider range of users will gain access. There are no fees or spreads charged for fiat transactions and Revolut's standard cryptocurrency transaction and remittance limits apply.
A spokesman for Revolut said the three countries were selected based on the size of their markets. Based on product readiness, operational capabilities and regulatory approvals, it is planned to expand to other European Economic Area (EEA) markets in the second half of 2026.
The delisting of USDT in the EEA region coincides with the issuance of EURR
The issuance of EURR coincides with Revolut's decision to remove Tether (USDT) from the European Economic Area and Switzerland. After August 31, 2026, the remaining USDT balances held by customers in these markets will be converted in the base currency.
Revolut described EURR as the beginning of a broader stablecoin program. The company is developing tokens pegged to other currencies through an independent regulatory process, but has not disclosed the specific types of currencies developed. In addition, there are plans to support more blockchain networks in addition to Taifang.
