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Revolut begins rolling out EURR, a euro-backed stablecoin via app
Bridge Building reported about €374 of EURR outstanding, compared with Circle’s €394.5 million of EURC in circulation as of late August.
Revolut has started rolling out EURR, its first euro-backed stablecoin, to selected customers in Denmark, Poland and Portugal, using its app to provide access to a branded onchain euro.
Bridge Building S.A. is the legal issuer and the redemption counterparty for EURR, while Revolut Digital Assets Europe Ltd acts as the offeror and EURR is admitted to trading on the Revolut X platform, according to a legal disclosure cited by The Defiant.
The rollout is positioned as a distribution play, with EURR initially limited to eligible users in the three test markets despite Revolut’s app being used by more than 75 million customers. Revolut said users can move between euros, crypto, external wallets and supported blockchain networks.
The Defiant reports that Bridge listed a EURR supply snapshot of €374 outstanding and €374 in reserve assets as of Aug. 25, with all backing held as cash deposits at regulated credit institutions. The article also notes EURR is designed as an e-money token under the EU’s Markets in Crypto-Assets framework, and identifies Ethereum and Polygon as EURR chains, while Circle reported €394.5 million of EURC in circulation as of Aug. 24.
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