The fintech has joined a growing list of companies and banks pushing for a stake in the global stablecoin market.
Revolut has announced its first stablecoin, a euro-backed token called EURR.
The fintech commenced the phased roll-out of the stablecoin today (26 August), and said it will be first available to a “select group of customers” in Denmark, Poland and Portugal.
A broader launch across the European Economic Area is expected later this year, subject to product, operational and regulatory readiness.
EURR is issued by stablecoin platform Bridge – which was acquired by Stripe in 2024 – and is fully integrated into the Revolut retail app, according to the company.
The stablecoin is designed to maintain a value of €1, and is backed by reserves held and managed by Bridge.
Revolut said that EURR will give eligible customers a “euro-denominated, on-chain rail” to move between euros and crypto, and that the launch marks Revolut’s “next step in becoming a bridge between fiat [government-issued money] and crypto”.
“Revolut initially eliminated hidden fees and friction in currency exchange – now we are doing the exact same thing for crypto,” said Iman Olya, product owner of stablecoin at Revolut.
“EURR completely removes the pain of moving on- and off-chain, becoming a new seamless and instantaneous bridge between fiat and crypto.”
Revolut is the latest company to join the global stablecoin push, following the likes of fintech giants Stripe, Klarna and Visa, and numerous global banks.
While stablecoins have become more prevalent in the international financial landscape, the market is currently majorly denominated in US dollars, with European authorities making a push for euro-backed stablecoins to challenge US dominance.
“The growing argument is that to remain relevant, Europe must respond by promoting euro-denominated stablecoins of its own,” said Christine Lagarde, president of the ECB, at the Banco de España LatAm Economic Forum in May.
“Otherwise, it faces a future of digital dollarisation and a loss of monetary sovereignty.”
Earlier this year, AIB and Bank of Ireland joined a consortium of European banks – called Qivalis – working towards issuing a euro-denominated stablecoin to expand Europe’s financial infrastructure and compete with US-backed versions, which make up the overwhelming majority of stablecoins in circulation.
While stablecoins, once confined purely to crypto trading, have risen in mainstream popularity in recent years, statistics suggest that the popularity of the cryptocurrency may be slowing.
Statistics from DefiLlama show that the combined market value of stablecoins has levelled off in 2026, while data from Visa has shown that usage of the cryptocurrency has dropped this year.
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