Revolut launches EURR stablecoin in 3 markets as MiCA reshapes EU

Revolut has begun rolling out its first stablecoin, euro-pegged EURR, to selected customers in Denmark, Poland and Portugal, with expansion across other EEA markets planned later in 2026.

"By combining our global scale and licensed banking infrastructure with instant euro-denominated access to the crypto ecosystem, we are unlocking real-world stablecoin utility that no traditional bank or crypto native can match," Emil Urmanshin, Revolut's head of crypto, said.

EURR is issued by Bridge Building S.A., the Luxembourg-based entity of stablecoin infrastructure company Bridge, which Stripe acquired for $1.1 billion in February 2025. The token is designed to maintain a value of €1, with reserves held and managed by Bridge under MiCA requirements. At launch, EURR is available on Ethereum, with plans to support multiple blockchain networks including Solana, Arbitrum, Optimism, Avalanche, Injective, TON and Sui. The initial rollout covers approximately 2 million customers across the three markets, according to a Revolut spokesperson.

The rollout arrives as Revolut removes Tether's USDT from eligible accounts in the EEA and Switzerland under MiCA rules. Revolut stopped USDT purchases for affected European customers on July 6 and gave existing holders until Aug. 31 to sell, withdraw or transfer their tokens. EURR gives Revolut a euro-denominated token issued within the MiCA framework while the company removes a stablecoin that no longer fits its product requirements for eligible European accounts.

EURR's reserve structure and the euro stablecoin field

Bridge's public reserve dashboard shows 374 tokens in circulation, backed by €374 held entirely as cash deposits at credit institutions. For comparison, Circle reported around €403 million of its euro stablecoin EURC in circulation. USDT and USDC together account for roughly 85 percent of all stablecoins in circulation, leaving euro tokens a small segment of the market.

EURR is classified as a euro-pegged e-money token, meaning holders do not receive the protections attached to a traditional bank deposit. Redemption at par is handled through the issuer subject to Bridge's onboarding and regulatory requirements. An independent accounting firm is to confirm monthly that reserves cover the token supply circulating in the EEA. Within six months, Bridge also has to file recovery and redemption plans with Luxembourg's CSSF. Under market stress, that framework can permit temporary redemption limits, liquidity fees or a suspension of redemptions.

Competition in the euro stablecoin space is building. Circle has been in the market with EURC for years and was the first issuer to secure MiCA authorization. In Germany, AllUnity, a joint venture of DWS, Flow Traders and Galaxy, launched the EURAU token under a BaFin license. The Qivalis project now has 37 European banks behind it, including BNP Paribas, ING, UniCredit and BBVA, which plan to issue a MiCA-compliant euro stablecoin in the second half of the year.

Revolut's expanding crypto and banking footprint

The stablecoin launch follows several additions to Revolut's digital asset business. In July, Revolut connected Revolut X to third-party AI tools including Claude, Gemini, OpenClaw and Cursor, allowing customers to retrieve market data, review accounts, analyze positions and prepare trades through natural-language instructions. Orders prepared through the integrations still require user approval before execution.

Revolut's regulated banking business has also expanded during 2026. In March, the company secured PRA approval to launch Revolut Bank UK after a multiyear licensing process. The approval allows eligible UK customer deposits to receive Financial Services Compensation Scheme protection. Revolut also applied to the U.S. Office of the Comptroller of the Currency for a national banking charter in March. In July, Revolut received in-principle approval from Dubai's Virtual Assets Regulatory Authority to offer regulated virtual asset services in the United Arab Emirates.

The company's customer base has continued to increase alongside its crypto operations. A July employee share sale valued Revolut at $115 billion, while the company reported more than 75 million customers at the time and $6 billion in 2025 revenue.

EURR is the first part of a multi-currency stablecoin plan. Other fiat-denominated tokens are being developed through separate regulatory pathways, although Revolut has not disclosed which currencies it intends to support next. External wallet transfers will initially be available to selected customers and will be extended as liquidity develops. Customers can use EURR as an onchain euro asset when moving funds between fiat and crypto without first converting into a dollar-denominated stablecoin.

This article is for informational purposes only and does not constitute investment advice.