Revolut has started to open the EuroStabilization EURR to selected European users in stages. This was the first time that its stabilization currency plan had resulted in specific products, the first of which covered the three EEA markets of Denmark, Poland and Portugal.

First three-country user coverage

According to the company ' s bulletin, the EUURR anchors the euro and maintains the target of 1 token equivalent to 1 euro and has access to the Revolut retail application. Users can complete the conversion between euro and chain-encrypted assets in application.

Revolut indicates that EURR will run on multiple block chains and support interaction with external wallets. The company also stated that it would subsequently expand the product to more EEA markets.

Issuer responsible for reserve management

EURR by Bridge Building S.A. This Luxembourg entity holds a secure asset service provider and an electronic money agency licence issued by the local regulatory body CSF.

Reports indicate that Bridge Building S.A. belongs to Bridge. The latter is SFI, which has been acquired by Stripe. Bridge is responsible for the holding and management of reserves, while Revolut is responsible for distribution through a Cypriot-supervised and licensed subsidiary of the MiCA.

  • The first pilot markets were Denmark, Poland, Portugal
  • Issuer is responsible for reserve management, Revolut is responsible for distribution
  • Plans to expand to more EEA markets during the year

The ECB remains cautious.

As the euro stabilizes the currency, the ECB continues to have reservations about this direction. In May this year, European Central Bank President Lagarde stated that currency stabilization was not an effective way of strengthening the international position of the euro.

She mentioned two main risks, including the possible pressure on private debt instruments to concentrate on redeeming, and the possible weakening of policy interest rate transmission following the outflow of bank deposits. According to the data, about 98 per cent of the $317 billion in stable currency markets at that time were in United States dollars.

More currencies are still in preparation.

Revolut states that other currencies are also planned to be introduced this year, but still depends on regulatory readiness. According to the company, these products will be advanced through different regulatory pathways.

Additional information:The report mentions that Brussels is preparing to revise the MiCA in 2027 to cover offshore issuers; Revolut has also been granted British Bank licences this year and has been involved in the British Central Bank’s work on digital securities-related British pound stabilization currency.