Revolut launched EURR, its first euro-denominated stablecoin, on August 26, with a limited rollout to selected customers in Portugal, Poland and Denmark. Contrary to expectations, Revolut does not directly issue EURR: Bridge Building S.A., a Luxembourg-regulated company owned by Stripe’s Bridge subsidiary, is the token issuer, with a fixed rate of one euro per token. At launch, only 374 tokens were in circulation, backed by 374 euros in cash deposits. The main advantage of this stablecoin is to allow Europeans to transfer euros on-chain without dollar exposure, unlike USDC.
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