Euro stablecoins get a mainstream push as Revolut begins rolling out EURR in Europe
Revolut is launching a euro-backed stablecoin, EURR, to its European customer base, marking a push for mainstream adoption of onchain assets. The token is issued by Bridge and complies with MiCA regulations, aiming to bridge traditional banking with decentralized finance.
Why it matters
The entry of major fintech players into the stablecoin market could significantly increase the utility and accessibility of euro-denominated digital assets for retail users.
Revolut, whose app boasts over 80 million retail customers, said the stablecoin’s rollout will start with a select group of customers within Denmark, Poland, and Portugal in an emailed announcement on Wednesday. The token shares its ticker with Stablr’s euro-backed stablecoin, which currently has a 6.4 million market capitalization.
EURR gives the still-small euro-stablecoin sector a potential distribution channel far beyond crypto-native platforms. Revolut says more than 16 million of its customers already use crypto, meaning wider integration of EURR could put a euro-denominated onchain asset in front of a mainstream audience through an app they already use for banking.
The stablecoin ecosystem is currently worth over $300 billion, though euro-pegged stablecoins represent less than $800 million of that, according to DeFiLlama data .
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