Revolut launches EURR euro-pegged stablecoin

Revolut has launched EURR, a stablecoin pegged 1:1 to the euro. The token is available through the Revolut app to eligible retail and business customers in jurisdictions where local rules permit and can be redeemed for euro balances held inside the app.

Revolut announced EURR is backed one-to-one by euros and will operate on public blockchains. It will be compatible with common digital-asset wallets and exchanges that accept euro-pegged tokens, with operational controls intended to maintain the peg and allow conversion back into euros on the platform.

The firm positions EURR for moving euros on public blockchains, trading against other digital assets inside the app, peer-to-peer transfers and instant settlement in crypto trades. The token will appear in the same interfaces where customers already manage currency balances and cryptocurrencies.

The launch follows increased interest in euro-denominated stablecoins from banks, asset managers and crypto firms as market participants seek euro liquidity on blockchains that have been dominated by dollar-pegged tokens. Regulators have focused on reserve management, custody and consumer protections for stablecoin issuers. Revolut said it will operate EURR under applicable laws in the jurisdictions where it offers the token and apply compliance measures aligned with its regulatory obligations.