Revolut has begun rolling out EURR, its first euro-backed stablecoin, to selected customers in Denmark, Poland and Portugal, with Bridge Building S.A. acting as the regulated issuer and redemption counterparty. EURR is classified as an e-money token under the EU’s Markets in Crypto-Assets framework, with reserves reportedly held in segregated accounts or highly liquid euro instruments, and currently issued on Ethereum and Polygon networks. The initial EURR supply is small, with 374 tokens backed by €374, compared with Circle’s €394.5 million EURC. Revolut plans broader market access later this year and is developing additional currency-linked stablecoins.
This update represents a notable development in the Crypto sector. Organizations and founders tracking this space should evaluate potential strategic and technical implications on their operations.