Revolut Launches Euro Stablecoin EURR in Three EU Countries

Revolut has launched a euro-denominated stablecoin in three European Union countries.

Cointelegraph reported on August 25 that Revolut rolled out its euro stablecoin, EURR, in Denmark, Poland and Portugal. The company plans to expand the service to other European Economic Area countries later this year after completing regulatory preparations.

EURR is issued by the Luxembourg unit of Bridge, a stablecoin infrastructure company owned by Stripe. Revolut is offering trading services for the stablecoin to users in the EU.

The token is pegged one-to-one to the euro. Bridge holds and manages the reserve assets in line with the EU's Markets in Crypto-Assets, or MiCA, rules.

Revolut also added the stablecoin service to its app with the launch of EURR.

Separately, Revolut recently decided to discontinue support for Tether's USDT in the EU. Starting in September, it plans to convert any remaining USDT in user accounts into fiat currency.