Revolut’s EURR Stablecoin Goes Live in Limited Pilot, Takes Aim at Circle’s EURC 

Revolut began rolling out EURR, its first euro-backed stablecoin, to a “select group of customers” in Denmark, Poland and Portugal on 26 August.

The token is issued by Bridge, the stablecoin infrastructure firm Stripe acquired in February 2025. Bridge Building S.A., the issuer’s Luxembourg entity, holds the reserves and redeems EURR at €1.00 per token under the EU’s Markets in Crypto-Assets framework, having secured MiCA and electronic money authorisations covering all 27 EU member states, announced on 2 July.

Revolut Digital Assets Europe Ltd is the sole distributor named in the token’s MiCA white paper, which lists the Revolut retail app and Revolut X, the firm’s standalone exchange, as the distribution channels. 

The public offer opened on 20 August on Ethereum and Polygon, and the white paper plans support for Solana, Arbitrum, Optimism, Avalanche, Injective, TON and Sui, with no maximum supply set.

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374 Tokens At Genesis

Like other MiCA e-money tokens, EURR is minted against euro reserves when customers buy it and burned on redemption, so circulation grows with uptake. 

The white paper requires Bridge to hold one euro or equivalent euro-denominated assets for every token issued, and Bridge’s reserve dashboard, last updated Tuesday evening, listed 374 tokens in circulation against €374 in reserves, all held as cash deposits at credit institutions, according to Finance Magnates. However, to clarify, that’s just the amount minted at genesis. 

Moving on, the market EURR enters is led by Circle’s EURC, issued under the licence that made Circle the first stablecoin issuer authorised under MiCA. 

Circle reported €403.1 million of EURC in circulation on 20 August, and ten major EU banks plan a joint euro stablecoin for late 2026.

More Currency Tokens Planned

“EURR connects 80 million Revolut customers directly to on-chain finance”, Revolut head of crypto and new bets Emil Urmanshin stated in the launch announcement, which describes the token as “a euro-denominated, on-chain rail” between euros and crypto, fully integrated into the retail app.

Revolut said a broader launch across the European Economic Area is expected later in 2026, “subject to product, operational and regulatory readiness”, and that additional currency-denominated stablecoins are in development through separate regulatory pathways.

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