Revolut launches EURR, its own euro-backed stablecoin

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)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram