Revolut now issues its own euro. The company started a phased rollout of EURR, a euro-pegged stablecoin, to a select group of customers in three European markets. The launch pushes Europe’s most valuable fintech into a category that dollar tokens have controlled for years. It also lands one week before Revolut removes USDT from its European app entirely.
EURR is Revolut’s first stablecoin: designed to maintain a value of €1.00, and backed by reserves held and managed by our EU-licensed issuer, @Stablecoin, in accordance with MiCA regulations.
— Revolut (@Revolut) August 26, 2026
Inside the EURR Launch
Revolut began the phased rollout on August 26. Eligible customers in Denmark, Poland and Portugal get access first. Regulatory filings show the public offer actually opened on August 20. The token holds a one-to-one peg to the euro. Revolut distributes it through both the retail app and Revolut X, its standalone exchange.
The white paper lists Ethereum and Polygon as the launch networks. Support for Solana, Arbitrum, Optimism, Avalanche, Injective, TON and Sui follows later. Customers can also send EURR to compatible external wallets as liquidity builds. Additionally, Revolut applies no spread or fee on euro-to-EURR conversions. That pricing matters, because it removes the usual cost of routing euros through a dollar stablecoin first.
Why Bridge Issues the Token, Not Revolut
Revolut brands and distributes EURR, however it does not issue the token. Bridge Building S.A. holds that role from Luxembourg. Stripe acquired Bridge for $1.1 billion in February 2025. The CSSF, Luxembourg’s financial regulator, licenses Bridge as both an electronic money institution and a crypto-asset service provider.
As a result, Bridge manages the reserves and carries the legal redemption obligation. Revolut Digital Assets Europe Ltd appears as the sole named distributor, supervised by Cyprus regulator CySEC. MiCA classifies EURR as an e-money token, which strips away deposit insurance. Holders own a redemption claim on Bridge, not a protected bank balance. Notably, the white paper promises monthly reserve confirmation from an independent accounting firm, though it never names the auditor.
The USDT Exit That Created the Opening
Timing explains much of this launch. Revolut stops supporting USDT across the EEA and Switzerland on August 31. Customers already lost the ability to buy the token on July 6. Any leftover balance converts to home currency after the deadline passes.
Tether never sought MiCA authorization, so European platforms had to act. MiCA requires large stablecoin issuers to hold at least 60% of reserves in EU bank deposits. Consequently, Revolut needed a compliant euro option for the same users it was about to cut off. EURR fills that gap directly. Meanwhile, it keeps those customers trading inside Revolut instead of pushing them toward outside venues.
A Tiny Start in a Very Small Market
Early circulation numbers stay modest. Bridge’s reserve dashboard showed just 374 EURR outstanding against 374 euros in cash deposits. In contrast, Circle’s EURC carried roughly 403 million euros in circulation at the same point. That gap illustrates how far Revolut has to travel.
The wider euro stablecoin market sits between $674 million and $783 million, depending on the tracker. Eight MiCA-compliant euro tokens grew 128% over the past year. EURC alone takes about 41% of that market, up from 17% twelve months earlier. Société Générale’s EURCV holds second place near $137 million. Still, dollar stablecoins dwarf the entire category, since USDT and USDC together exceed $300 billion. Euro tokens therefore represent under 0.4% of total stablecoin supply.
Distribution Is Revolut’s Real Advantage
Circulation figures understate what Revolut actually brings. The company reports more than 80 million customers and over 16 million crypto users. Its base reached 68.3 million by March 2026 before crossing 80 million. Revolut also won a UK banking licence in March 2026, adding regulated infrastructure to that reach.
Emil Urmanshin, Head of Crypto and New Bets, said EURR connects 80 million Revolut customers directly to onchain finance. He argued that combining global scale with licensed banking infrastructure unlocks utility “that no traditional bank or crypto native can match.” Iman Olya, Product Owner for Stablecoin, framed the token as an instant bridge between fiat and crypto. Importantly, no rival euro stablecoin ships inside a consumer app of that size.
What Revolut Builds Next
Revolut calls EURR the first step, not the destination. The company plans to extend the token across other EEA markets later this year. Additional currency-denominated stablecoins follow through separate regulatory pathways. The FCA already selected Revolut for the stablecoin cohort of its regulatory sandbox in February. That project covers a sterling-pegged token backed by pound reserve assets, and regulators picked Revolut from twenty applicants.
A GBP stablecoin therefore looks like the likely second launch. Multi-chain expansion runs in parallel, widening where EURR can settle. The broader signal is simple: neobanks now want to own the money layer, not just the app around it. Revolut moved first at scale, and other consumer fintechs will face pressure to answer.
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