Revolut launched a euro-backed stablecoin called EURR on August 26, 2026, issued through Stripe’s Bridge unit under MiCA, and is simultaneously suspending support for Tether’s USDT for users in the European Economic Area by August 31, according to FinTech Futures and Bloomberg. The token is rolling out first in Denmark, Poland and Portugal to Revolut’s roughly 80 million retail customers.
What happened?
FinTech Futures reported that EURR is issued by Bridge Building S.A., a Luxembourg entity belonging to Bridge, the stablecoin-infrastructure firm Stripe acquired, and that it is minted under Bridge’s MiCA crypto-asset service provider license and Luxembourg electronic-money-institution authorization. Bloomberg confirmed the August 26 launch, framing it as Revolut joining the global stablecoin race with a euro-backed token. Revolut’s crypto arm, Revolut Digital Assets Europe, is integrating EURR directly into the consumer app, with a phased rollout in Denmark, Poland and Portugal and wider EEA availability planned later in 2026.
The launch comes paired with a withdrawal. Revolut is suspending USDT for EEA users by August 31, 2026, in line with MiCA Title V, which bars licensed crypto-asset service providers from offering non-authorized e-money tokens, FinTech Futures reported. The Next Web noted that MiCA’s requirement for major issuers to hold a large share of reserves in EU bank deposits has effectively consolidated the compliant euro-token market around a small number of authorized players, with Circle’s EURC and USDC holding e-money-token authorizations and EURC having passed roughly 400 million euros in circulation earlier in the year.
Why does it matter?
Revolut’s move captures two forces reshaping European stablecoins at once. First, distribution: rather than a crypto-native issuer chasing users, a mainstream neobank is embedding a euro token inside an app that tens of millions already use for everyday banking. As The Next Web put it, “Distribution has been the binding constraint on stablecoin adoption in Europe, not technology.” Second, regulation: MiCA is actively redrawing the map, pushing licensed platforms to drop non-compliant tokens like USDT and to favor authorized, euro-denominated alternatives.
The USDT suspension is the sharpest signal. Tether declined to seek MiCA e-money authorization, in part because MiCA requires major issuers to hold a large share of reserves in EU bank deposits, a structure at odds with Tether’s Treasury-heavy model, The Next Web noted. European platforms have progressively delisted USDT for regulated users, and Revolut cutting it for EEA customers while launching its own compliant euro coin shows how the rulebook is steering distribution toward tokens that fit the framework. It also underscores Stripe’s growing role as an issuing engine behind other brands’ stablecoins through Bridge, which Stripe acquired. Revolut, for its part, holds a stack of licenses, including UK and EU banking authorizations and MiCA authorization via Cyprus, that let it push the token directly to retail users. Our regulation hub tracks how MiCA continues to reshape the market.
For now, the euro stablecoin market remains small relative to dollar tokens. The Next Web noted that Circle’s EURC passed roughly 400 million euros in circulation earlier in the year, a substantial lead in what is still a modest market, and that MiCA has so far consolidated compliant euro issuance around a handful of authorized names. Revolut’s advantage is reach: dropping a compliant token into an app already used by around 80 million people for salaries and spending is a different starting point than a standalone crypto product. Figures such as EURC’s circulation are cited here as reported rather than as live totals.
What to watch next?
Key questions include how fast Revolut expands EURR beyond its first three markets, whether adoption inside a mainstream app meaningfully grows euro stablecoin usage, and how EURR competes with Circle’s EURC. Also worth watching is the broader delisting trend for USDT across EEA platforms, the EU’s ongoing consultation on revising MiCA for non-EU issuers and tokenized deposits, and which other banks or fintechs launch MiCA-compliant tokens. Details here are attributed to Bloomberg, FinTech Futures and The Next Web; where the token’s finer technical details remain unconfirmed, that has been noted.
Sources: Bloomberg — Revolut Joins Global Stablecoin Race With Euro-Backed Token; FinTech Futures — Revolut launches euro-backed stablecoin EURR; The Next Web — Revolut is launching a euro stablecoin into a market MiCA handed to an American company
This is news reporting, not investment advice.
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Elena Petrova is a regulatory correspondent specializing in crypto law and policy with over 10 years of financial journalism experience. Formerly a finance reporter at Reuters, Elena covers SEC enforcement, MiCA implementation, and global stablecoin regulations. She holds a J.D. from Georgetown Law and is a member of the New York State Bar. Her regulatory analysis is frequently referenced by compliance officers and legal teams at major exchanges.
Conflicts of interest
I have no current legal practice or retainer relationships with any cryptocurrency company. Past employment relationships are listed publicly.
