Revolut launches EURR, a euro stablecoin issued by Bridge
The company is calling it “the first step” in its broader stablecoin strategy. First rolling out in Denmark, Poland and Portugal and then expected in more European countries (and currencies) later this year.
Revolut announced EURR, a euro-pegged e-money token issued by Stripe-owned Bridge under MiCA and offered inside the Revolut app, with a phased rollout to eligible customers starting this month in Denmark, Portugal and Poland. It works across supported crypto services, external wallets and chains, and Revolut calls it the first of a suite of stablecoins in several currencies.
Supported by multiple blockchain networks and external wallets, Revolut’s EURR stablecoin is designed to maintain a value of €1.00 and is backed by reserves held and managed by Bridge.
As digital assets move closer to mainstream finance, Revolut believes stablecoins have the potential to support broader use cases across international transfers, business transactions, and settlement over time.
Revolut is bullish about the potential for its first stablecoin. Emil Urmanshin, head of crypto and new bets at Revolut, says: “EURR connects 80 million Revolut customers directly to on-chain finance. 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.”
Simon Taylor, commented: „Every euro stablecoin combined is worth about $810m, and Circle’s EURC is 65% of that. Dollar stablecoins are around $300bn. Revolut holds $67.5bn of customer balances. If 1% of that moved into EURR, it would be the biggest euro stablecoin on day one and close to the size of the whole market. What I wonder about is why the first three markets are Denmark, Poland and Portugal, when two of them pay in kroner and złoty?„
Max Karpis, early Revolut investor, explained: „They probably chose smaller markets to test in, which still make euro transactions. As for PT, it could be the Brazil angle. They previously used Denmark and other smaller countries as test markets for other products.„
Carl Mikael Björn, Co-Founder & CPTO of Panorama Block, added: „The part I find more consequential is that EURR does not actually make Revolut the issuer. Bridge Building S.A. is. Revolut is the distributor, brand, customer interface and demand engine, while redemption liability sits with a regulated Stripe-owned issuer. That is a very deliberate separation of concerns. It also makes the moat question more interesting. If issuance becomes rentable infrastructure, the scarce asset is not the token contract. It is distribution, balance-sheet access, customer behaviour, treasury flows and the ability to make conversion between deposits, FX and on-chain money feel like one product.
The three launch markets may therefore be less about euro demand than about controlled rollout. Poland and Denmark are particularly useful tests because EURR is not the domestic unit of account there. If customers still use it, Revolut learns whether the product solves a real cross-border or treasury problem rather than merely digitising euros for euro users. The next question is governability: who may mint, redeem, freeze, route or convert value, under whose authority, and how that authority survives across Revolut, Bridge and the chain. That boundary will matter more than the stablecoin label.”
