Revolut launches EURR euro stablecoin in Europe

Revolut has begun rolling out its first stablecoin, EURR, to selected customers in Denmark, Poland and Portugal. Bridge Building S.A. issues EURR. Bridge Building S.A. is a Luxembourg-based entity of Stripe-owned stablecoin infrastructure company Bridge. Revolut will integrate EURR into its retail app. EURR will support multiple blockchain networks. Customers will be able to transfer EURR to external wallets. Revolut expects the phased rollout to expand to other EEA markets later this year, subject to product, operational and regulatory readiness. EURR is designed to maintain a value of one euro. Bridge holds and manages reserves for EURR under the European Union's MiCA rules. Revolut Digital Assets Europe offers the token. Revolut is withdrawing Tether's USDt from the EEA and Switzerland. Revolut previously said it would convert remaining USDT balances into customers' base currencies after Aug. 31. Revolut said EURR is the first step in a broader stablecoin strategy. The company is developing tokens denominated in other currencies through separate regulatory pathways. Revolut did not identify the currencies under development.