The stablecoin, called EURR, is pegged to the euro and will be available initially to eligible customers in Denmark, Poland and Portugal, Revolut said in a statement on Wednesday. It called EURR “the first step” in its broader stablecoin strategy, which will include tokens linked to other currencies.
Revolut expects to roll out the token to clients in other markets in the European Economic Area later this year. EURR will be integrated into the Revolut app, allowing customers to move between euros and crypto on-chain, it said.
“Revolut initially eliminated hidden fees and friction in currency exchange,” Iman Olya, Revolut’s product owner of Stablecoin, said in the statement. “Now we are doing the exact same thing for crypto.”
The UK fintech joins an increasingly crowded field, with companies from Visa Inc to Klarna Group Plc — as well as several global banks — announcing stablecoin initiatives over the past year. Once largely confined to crypto trading, stablecoins are increasingly seen in mainstream finance as a speedy and cost-efficient way of moving money and making payments.
Even so, more than a year after US President Donald Trump pushed through legislation to regulate stablecoins in a major breakthrough for the asset class, there are signs of market fatigue.
The combined market value of stablecoins has plateaued in 2026 after years of rapid growth, according to DefiLlama. Data compiled by Visa that’s intended to show actual usage similarly point to transaction volumes cooling this year after surging since mid-2023.
Tether Holdings SA’s USDT and Circle Internet Group Inc’s USDC still dominate the market, three years after PayPal Inc launched its own token. Together, USDT and USDC account for more for about 85% of stablecoins in circulation, DefiLlama data show. Euro-linked tokens make up a tiny portion of the total market.
EURR is issued by Stripe Inc-owned stablecoin infrastructure company Bridge, which will hold and manage the asset reserve backing the stablecoin.
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