Revolut launches EURR euro stablecoin; reserves held by Bridge

Revolut launched the euro-pegged stablecoin EURR on Aug. 26, 2026 in Denmark, Poland and Portugal. The token is classified as an e-money token under the EU’s MiCA rules and is redeemable at par.

Bridge Building S.A., a Luxembourg-licensed company, is the legal issuer and custodian of the euros that back each EURR. Bridge holds two permissions from the Commission de Surveillance du Secteur Financier: one as an electronic money institution and one as a crypto-asset service provider.

Revolut handles distribution through Revolut Digital Assets Europe, a Cyprus-regulated subsidiary. That unit presents the token to Revolut’s customers but does not hold the reserve funds or perform issuance and redemption.

EURR launched with smart contracts on Ethereum and Polygon. Support for additional chains including Solana, Arbitrum, Optimism, Avalanche, Injective, TON and Sui is planned. Customers can hold EURR on-chain, use it inside the Revolut app and on the Revolut X trading platform, and move holdings to external wallets as on-chain liquidity develops.

Under MiCA, issuers of e-money tokens must safeguard client funds by keeping them in segregated accounts at regulated banks or in eligible, highly liquid euro-denominated instruments. In the current structure, Bridge is responsible for custody and proof of reserves while Revolut provides distribution and customer-facing services.

Shortly after launch, Bridge’s public reserve dashboard reported roughly 374 EURR in circulation backed by about 374 euros of reserves. Revolut plans to expand EURR availability across Europe before the end of 2026 as liquidity and wallet support increase.

Fiat-backed tokens rely on traditional bank-to-bank currency movements. The legal issuer must maintain banking or correspondent arrangements to hold and transfer euros and must be able to provide those funds on redemption.

The EURR setup separates issuance and reserve custody from distribution. Revolut retained the app, brand and customer relationships while Bridge holds and accounts for the underlying euros.