Revolut launches EURR euro stablecoin in three EEA markets on Bridge's MiCA licence

Revolut, valued at $75bn, has begun rolling out EURR, a euro-denominated stablecoin minted by Stripe-owned Bridge, to eligible customers in Denmark, Poland and Portugal. Wider availability across the European Economic Area is expected later this year.

Revolut has more than 80 million customers globally and over 16 million using its crypto products. The company has spent the past two years widening its regulated footprint in Europe, most recently securing a full French banking licence and building out a Western European hub in Paris.

EURR, announced on 27 August, is an Ethereum-based token pegged to the euro that lets customers move between fiat and on-chain assets inside the Revolut app. The company says it will be supported across multiple blockchain networks and external wallets rather than being confined to its own environment.

The structure is the notable part. Revolut is not issuing the token itself. Bridge, the stablecoin infrastructure business owned by Stripe, mints EURR under a MiCA crypto-asset service provider licence and a Luxembourg electronic money institution authorisation it secured recently. Revolut Digital Assets Europe, the group's crypto arm, handles distribution into the retail app.

That split keeps the reserve and issuance obligations with Bridge while Revolut supplies the customer base — an arrangement that lets it reach the market without holding the issuer permissions itself. Financial terms of the arrangement between the two companies were not disclosed.

The launch is the first phase of a broader programme. Revolut has said further currency-denominated stablecoins are in development through separate regulatory routes, and describes stablecoins as core infrastructure for the crypto economy rather than a standalone product line.

Timing is commercial as much as regulatory. MiCA has pushed non-compliant tokens out of European distribution, leaving a gap in euro-denominated stablecoins that a handful of licensed issuers are now moving to fill, including a consortium of European banks preparing their own launch this year.

For Revolut's shareholders, the read-across is on revenue mix. Interchange and interest income remain the bulk of the business, but stablecoin flows attach to payments, treasury and crypto trading at once. Building that on a partner's licence limits the capital and compliance load on Revolut's own balance sheet at a point when its valuation has climbed steeply on secondary share sales.

Original source: FinTech Futures — https://www.fintechfutures.com/blockchain-crypto-digital-assets/revolut-launches-euro-backed-stablecoin-eurr