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Revolut begins rolling out euro stablecoin EURR
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Revolut begins rolling out euro stablecoin EURR

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  • Revolut is rolling out EURR to selected customers in Denmark, Poland and Portugal.
  • The stablecoin is redeemable at €1 and runs on Ethereum and Polygon.
  • Revolut says more than 16 million of its customers already use crypto.

Revolut is rolling out EURR, a euro-backed stablecoin, to selected customers across three European markets.

The initial rollout covers Denmark, Poland and Portugal before wider integration into Revolut’s retail app.

Bridge, a Stripe-owned company, issues the MiCA-compliant token and allows each EURR to be redeemed for €1.

EURR is deployed on Ethereum (CRYPTO:ETH) and Polygon, with reserves held in segregated accounts or eligible euro-denominated assets.

Revolut has more than 80 million retail customers, including more than 16 million who already use crypto.

Euro-pegged stablecoins account for less than $800 million of a stablecoin market worth more than $300 billion, according to DeFiLlama data cited by CoinDesk.

The EURR project has been in development for almost two years, while Bridge’s reserve page showed 374 EURR in circulation at publication.

At the time of reporting, Ethereum price was $2,490.04.

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