Revolut Debuts Euro-Pegged Stablecoin in 3 Countries

Revolut, a U.K. FinTech, has introduced its EURR stablecoin, pegged to the euro, which will initially be available to customers in Denmark, Poland and Portugal. The token is being rolled out by Bridg and will be integrated into Revolut’s app, allowing users to switch between euros and cryptocurrency on chain. Revolut’s CEO, Cetin Duransoy, has revealed that the company plans to expand the stablecoin to other European Economic Area countries later this year, as part of its vision for a full suite of stablecoins in various currencies.

This launch joins numerous other banks and FinTechs that have recently ventured into stablecoin projects. Competitors such as Visa, which joined Singapore’s BLOOM initiative, and OpenPayd, which integrated with Circle Payments Network, have also been working on stablecoin solutions. PYMNTS Intelligence research reveals that while stablecoins are becoming more popular among middle-market companies, their adoption is limited due to regulatory uncertainty.

77% of CFOs cited regulatory or compliance issues as a hindrance to crypto adoption, and 67% expressed similar concerns about stablecoins. The main challenges lie in integrating these tools into existing financial systems and ensuring seamless functionality within real finance workflows.