Revolut launched EURR, a euro-backed stablecoin issued by Stripe-owned Bridge, on August 20, according to regulatory documents. Bridge’s reserve dashboard showed only 374 tokens in circulation and EUR 374 in cash reserves.

The dashboard was last updated Tuesday evening. That supply is less than one-millionth of Circle’s EURC circulation, but it turns Revolut’s previously disclosed stablecoin plan into a live public offer distributed through the Revolut app and Revolut X.

Bloomberg first reported the launch on Wednesday. Revolut had not posted a separate announcement in its public newsroom by the time of publication, but its legal disclosures and Bridge’s Markets in Crypto-Assets (MiCA) white paper confirm the product.

Bridge, Not Revolut, Is the Legal Issuer

Luxembourg-based Bridge Building S.A. issues EURR. The Commission de Surveillance du Secteur Financier (CSSF) regulates Bridge as an electronic money institution under license W00000024 and as a crypto-asset service provider under license N00000012.

Revolut Digital Assets Europe Ltd is the sole distributor named in the white paper. It offers EURR through Revolut’s retail app and Revolut X, while the token itself is branded as Revolut Euro.

Stripe completed its acquisition of Bridge in February 2025. The transaction had been reported at $1.1 billion when the companies agreed to the deal in 2024.

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Bridge’s dashboard, updated Tuesday evening, listed Ethereum and Polygon as the two current networks. The white paper names a wider planned set that includes Solana, Arbitrum, Optimism, Avalanche, Injective, TON and Sui.

Bridge reported that cash deposits at credit institutions accounted for all EUR 374 of reserves. The dashboard showed no allocation to highly liquid financial instruments.

The white paper says an independent accounting firm will confirm monthly that reserves match or exceed tokens circulating in the European Economic Area, but it does not identify the auditor.

Holders have a legal claim on Bridge and can request redemption at par without a fee. They must pass compliance checks and provide an EEA bank account with a valid IBAN. Bridge says it will transfer the euros within two business days.

EURR does not pay interest to holders, even if Bridge earns returns on reserve assets. Bridge can also freeze addresses connected to suspected illegal activity or where required by authorities.

EURR Starts Far Behind Established Euro Tokens

Circle launched EURC on Ethereum in June 2022 and received authorization to issue the token under MiCA in July 2024. FinanceMagnates.com covered the approval, which also allowed Circle to issue USDC from its French electronic money institution.

Circle reported EUR 403.1 million (about $470.1 million) of EURC in circulation on August 20 across Avalanche, Base, Ethereum, Solana and Stellar. That self-reported figure was more than one million times the circulation shown for EURR five days after its public offer began.

Germany-based AllUnity added another regulated euro token in July 2025. The joint venture between DWS, Flow Traders and Galaxy launched EURAU after receiving an electronic money institution license from the Federal Financial Supervisory Authority, known as BaFin.

Qivalis said in May that 37 European banks had joined its own project, including BNP Paribas, ING, UniCredit and BBVA.

Qivalis plans to issue a MiCA-compliant euro stablecoin in the second half of 2026, subject to authorization by the Dutch central bank.

EURR’s white paper sets no maximum supply. Issuance will depend on demand from EEA customers, with Bridge required to hold one euro or an equivalent amount of euro-denominated assets for each circulating token.

Bridge must file recovery and redemption plans with the CSSF within six months of making EURR available. Under market stress, the recovery framework may permit temporary redemption limits, liquidity fees or a suspension of redemptions.

This article was written by Damian Chmiel at www.financemagnates.com.

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