The neobank and digital financial technology company Revolut announced the launch of its own stablecoin, EURR, backed by the euro and issued by Bridge, a subsidiary of Stripe.

With this innovation, it will be fully integrated into the Revolut app for eligible individuals in Denmark, Poland, and Portugal.

The initiative represents a crucial step for Revolut in its desire to “serve as a bridge between official money and cryptocurrencies. In this way, the fintech brings the euro into the on-chain environment and connects its traditional money, foreign exchange, and crypto asset services,” the company explains.

Revolut’s stablecoin was designed to maintain a value of one euro and is backed by reserves held and managed by the issuer, in accordance with MiCA regulations.

By the end of 2026, the neobank plans to extend the availability of the EURR stablecoin to the entire European economic landscape, as well as launch alternatives in other currencies, “something that will be contingent on the product’s maturity and its operational and regulatory viability.”

Selected customers will have instant access to the crypto ecosystem in euros, with “real utility for stablecoins that no other traditional bank or native crypto platform can match,” according to a statement from Emil Urmanshin, Director of Crypto and New Bets at Revolut.

M.Pino

Source: elobservador

(Reference image source: Sophie Dupau on Unsplash)

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The British neobank and financial technology company, Revolut, announced its entry into the Latin American market with the launch of its services in Brazil.

The firm already offers services to clients in Europe and the United States and has formed a team in Brazil, including the appointment of its local CEO, Glauber Mota. In addition, the company has appointed a general director for Mexico and plans to employ more than 250 new talents in Mexico and Brazil by 2025.

The platform will offer a wide range of services, including cryptocurrency, remittances, and prepaid debit cards. Revolut has been expanding its catalog and adding new cryptocurrency-based services since it opened crypto trading in 2017.

The company suggests launching in Brazil amid growing interest in digital assets and digital banking services. With nearly 29 million customers worldwide, Revolut will compete with a long list of companies offering digital banking and cryptocurrency services in the country, including market leader Nubank, which introduced cryptocurrency trading in 2022. The platform has not provided details about its next expansion steps in its statement.

K. Tovar

Source: Diariobitcoin

(Reference image source: file)

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La entrada Revolut officially arrives in Brazil apareció primero en Bitfinance.