ChainCatcher report: The digital euro, issued by the European Central Bank (ECB) and representing public money, is still in development; EURR, on the other hand, is a stablecoin issued by private institutions designed to maintain a value of one euro. Both address the need for instant fund transfers within digital platforms. Fintech company Revolut has begun a phased rollout of the euro stablecoin EURR to eligible users in Denmark, Poland, and Portugal, with plans to expand to the European Economic Area in the future. EURR is deployed on the Ethereum network and enables on-chain transfers between fiat currency, crypto assets, external wallets, and supported blockchain networks. EURR is issued by Bridge Building, a company under Stripe, not directly by Revolut. Piero Cipollone, member of the Executive Board of the European Central Bank, stated that the digital euro will offer the highest level of privacy supported by current technology—offline payments will be visible only to the payer and payee, while online transactions will allow participating banks to access information necessary for anti-money laundering compliance.
Revolut Phases Out Euro Stablecoin EURR in Denmark, Poland, and Portugal
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Summary
Revolut has begun rolling out the euro stablecoin EURR to eligible users in Denmark, Poland, and Portugal, with plans to expand to the European Economic Area. EURR, issued by Bridge Building (a Stripe subsidiary) and built on Ethereum, maintains a 1:1 peg to the euro to enable seamless transfers between fiat currency, crypto, and external wallets. As stablecoin regulation tightens under MiCA (EU Markets in Crypto-Assets Regulation), the European Central Bank is advancing the digital euro project, emphasizing privacy through encrypted offline payments and compliance controls for online transactions.
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