Revolut is gearing up to launch its own euro-backed stablecoin, EURR, according to Bloomberg. The token will be issued by Bridge Building, a regulated entity in Luxembourg. Distribution to users will be handled by Revolut Digital Assets Europe, and EURR will be available for trading on the Revolut X platform. The stablecoin will be pegged to the euro and can be redeemed at face value in euros.

How the EURR Launch Will Work

Here's how the rollout is planned: Bridge Building, licensed in Luxembourg, will handle the issuance of the token. Revolut Digital Assets Europe will distribute EURR to customers, and trading will kick off on the Revolut X exchange. The setup allows users to redeem the stablecoin 1:1 for euros.

Why Revolut and the Market Want EURR

Launching EURR is all about strengthening Revolut's presence in Europe's stablecoin scene, which is currently dominated by dollar-backed tokens. Adding a euro-pegged stablecoin expands Revolut's token lineup and gives euro-focused users a new competitive settlement option within the platform's ecosystem.