Revolut is rolling out EURR, its first stablecoin pegged to the euro, in Denmark, Poland and Portugal, Bloomberg reported Wednesday. Bridge, which is owned by Stripe, will issue the token and manage its reserve assets.
The product will be offered initially to eligible customers across the three markets, with availability expected to expand to other European Economic Area countries later this year. The fintech plans to integrate EURR directly into its app for on-chain euro-to-crypto transfers.
The launch is part of Revolut’s strategy to use stablecoins for payments and money movement. The company said it intends to introduce tokens linked to additional currencies.
Revolut had already been exploring stablecoins in the UK before its latest move. In February, the Financial Conduct Authority said the firm would participate in its stablecoin sandbox alongside Monee Financial Technologies, ReStabilise and VVTX, with testing focused on potential use cases including payments, wholesale settlement and crypto trading.
Revolut is entering a stablecoin market where traditional financial firms are increasingly exploring the tokens for faster, cheaper cross-border payments and business transactions. Yet euro-denominated stablecoins remain a small part of the global market, which is dominated by Tether’s USDT and Circle’s USDC.
