Revolut Launches Euro Stablecoin EURR in Three EU Countries
Forecast Trend Report by Period
Revolut has launched a euro-denominated stablecoin in three European Union countries.
Cointelegraph reported on August 25 that Revolut launched its euro stablecoin, EURR, in Denmark, Poland and Portugal. The company plans to expand the service to other European Economic Area countries later this year after completing regulatory preparations.
EURR is issued by the Luxembourg unit of Bridge, a stablecoin infrastructure company owned by payments firm Stripe. Revolut will offer trading services for the stablecoin to users in the EU.
EURR is pegged 1:1 to the euro. Bridge will hold and manage the reserve assets in line with the EU's Markets in Crypto-Assets, or MiCA, regulation.
Revolut has also added the stablecoin service to its app.
Separately, Revolut recently decided to discontinue support for Tether's USDT in the EU. Starting in September, it will convert any remaining USDT in user accounts into fiat currency.
