Revolut has quietly launched its euro-backed stablecoin EURR through Stripe-owned Bridge, with just EUR 374 currently in circulation according to regulatory filings and reserve data updated Tuesday evening. The token went live on August 20 and is distributed exclusively through Revolut’s retail app and Revolut X platform, though the company has not issued a public announcement.
Bridge Building S.A., a Luxembourg electronic money institution regulated by the CSSF, serves as the legal issuer rather than Revolut itself. The token currently operates on Ethereum and Polygon, with plans to expand to Solana, Arbitrum, Optimism, Avalanche, and other networks. All reserves are held in cash deposits at credit institutions with no allocation to liquid financial instruments yet.
The microscopic circulation puts EURR more than one million times behind Circle’s EURC, which launched in June 2022. Holders can redeem at par without fees within two business days using EEA bank accounts, though EURR pays no interest despite potential reserve earnings.
FXnCO Insight
This soft launch signals Revolut’s cautious entry into MiCA-compliant stablecoins through Stripe’s infrastructure—watch circulation growth as a key indicator of institutional adoption appetite.
Source: Finance Magnates