3 Things to Know About Revolut’s New Euro Stablecoin

Revolut began rolling out EURR, its first euro-denominated stablecoin, on August 26. The launch starts with selected customers in Portugal, Poland and Denmark, with wider EEA availability planned later this year.

But for European users, the obvious question is why use EURR when Revolut already offers USDC — or when users can simply keep euros in their account?

Three Things We Know About Revolut’s New Stablecoin

Revolut does not actually issue EURR. Bridge Building S.A., a Luxembourg-regulated company owned by Stripe’s Bridge, issues the token. Holders can redeem EURR with Bridge at €1 per token.

Also, its clearest difference from USDC is currency exposure. USDC tracks the US dollar, so its value in euros moves with EUR/USD. EURR tracks the euro, letting users move euro-denominated value onto Ethereum or Polygon without first taking dollar exposure.

However, this is still a tiny rollout. Bridge’s reserve page showed just 374 EURR in circulation at launch, backed by €374 in cash deposits. That makes EURR closer to a controlled pilot than an established rival to USDC.

Note: Stablecoins have become the most in-demand product for banking platforms. In fact, 39 US banking groups are currently developing their own stablecoin network.

What Revolut Still Hasn’t Explained

The biggest unanswered question is why the average Revolut customer should use EURR at all.

Revolut says EURR will connect fiat, crypto, external wallets and blockchains. But it has not announced a clear pricing advantage over USDC. 

Its current fee schedule already allows supported fiat-to-stablecoin conversions without transaction fees within certain plan limits.

It is also unclear whether EURR withdrawals will be cheaper than USDC, where outside liquidity will come from, or whether Revolut will add payment or rewards features.

For now, EURR solves one clear problem. It lets Europeans take euros on-chain without converting them into digital dollars.

The post 3 Things to Know About Revolut’s New Euro Stablecoin appeared first on BeInCrypto.