Revolut began a phased rollout of EURR, a euro-backed stablecoin, on August 26, 2026. It is the first token of its kind distributed in the Revolut app. The launch starts with a limited group of customers in Denmark, Poland, and Portugal. The UK fintech plans to extend it to the rest of the European Economic Area (EEA) later in the year, subject to product, operational, and regulatory readiness. Revolut says its app has more than 80 million retail customers.
Revolut does not issue the token itself. Under the EU’s Markets in Crypto-Assets regulation (MiCA), a euro stablecoin of this type is an e-money token: its issuer commits to hold its value at one euro and to redeem it at par on demand.
Stripe’s Bridge issues the token, Revolut distributes it
EURR is issued by Bridge Building S.A., Bridge’s Luxembourg entity. Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), has licensed it as an e-money institution (EMI) and as a crypto-asset service provider. Bridge is owned by Stripe, which announced the $1.1 billion acquisition in October 2024 and closed it in February 2025. Revolut Digital Assets Europe Ltd distributes the token to European customers.
The split between issuer and distributor follows from the regulation. MiCA allows only EMIs and credit institutions to issue an e-money token. It requires a reserve of assets equal to all tokens in circulation and gives holders the right to redeem at par, free of charge. Revolut honors that right subject to compliance checks and to the holder having a bank account in the EEA. Redemptions settle within two business days.
| Item | Details |
|---|---|
| Token | EURR, backed by the euro |
| Issuer | Bridge Building S.A., Luxembourg |
| Issuer’s licenses | E-money and crypto-asset services, granted by the CSSF |
| Distributor | Revolut Digital Assets Europe Ltd |
| Blockchains at launch | Ethereum, Polygon |
| Blockchains announced next | Solana, Arbitrum, Optimism, Avalanche, Injective, TON, Sui |
| Launch countries | Denmark, Poland, Portugal |
A compliant euro token arrives as Tether’s USDt leaves
The token arrives as Revolut pulls Tether’s USDt from its offering in the EEA and Switzerland, because the dollar token has no MiCA authorization. European platforms spent 2025 and 2026 delisting noncompliant stablecoins. EURR plays a different role: it is a compliant euro token that holders can move to external wallets.
MiCA also rules out yield. Neither the issuer of an e-money token nor any provider that distributes it may pay holders interest, however long they hold it. A EURR balance earns nothing for its owner, while the income on the reserve goes to the issuer. That is why euro tokens first caught on for settlement and transfers, where holding periods are short, rather than as a place to park savings.
Euro stablecoins remain a niche market
Euro stablecoins are still a sliver of a market dominated by the dollar. Circle’s EURC held about 63% of the euro segment at the end of August 2026, with a market cap of about $526 million, according to Crypto Briefing. Société Générale’s EURCV and Banking Circle’s EURI trail it. Dollar-denominated tokens account for most of the world’s stablecoin market cap, and a launch by a company of Revolut’s size will not change that balance in the near term.
Banks are preparing a rival euro token. Qivalis, an Amsterdam-based joint venture of 37 European banks in 15 countries, has applied to the Dutch central bank for an EMI license and is targeting a launch in the second half of 2026. Its members include BNP Paribas, CaixaBank, ING, UniCredit, Danske Bank, and DZ Bank.
“EURR connects 80 million Revolut customers directly to onchain finance,” said Emil Urmanshin, Revolut’s head of crypto. The company called the token “only the first step in our vision for a full suite of Revolut stablecoins, denominated in several additional currencies.” It has not given a timetable for the others.
Stripe sits on both sides of the deal
The EURR setup shows how roles are shaking out under MiCA. A specialist licensed institution holds the issuing license, manages the reserve, and handles redemptions. The app that brings the user base owns distribution, the interface, and the customer relationship. Stripe is on both ends of that chain: it owns the token’s issuer, and it competes with Revolut in merchant acquiring.