Revolut has begun rolling out EURR, its first euro-backed stablecoin, to customers in Denmark, Poland and Portugal, with Bridge Building S.A. acting as the regulated issuer. The launch puts Revolut in direct competition with Circle's EURC, which led the market with €394.5 million in circulation as of Aug. 24.
Revolut Rolls Out EURR in Three Markets
Revolut has started distributing EURR to selected customers in Denmark, Poland and Portugal, embedding a branded onchain euro inside its app. Bridge Building S.A., which Revolut describes as a Stripe company, serves as the legal issuer and redemption counterparty, while Revolut Digital Assets Europe Ltd acts as the offeror and lists EURR for trading on Revolut X.
The rollout reaches an app used by more than 75 million customers, though EURR access is initially limited to eligible users in the three test markets. Revolut said users can move between euros, crypto, external wallets and supported blockchain networks, and says wider availability is expected later this year, with stablecoins tied to other currencies also in development.
A Regulated Issuer With a Small Starting Supply
EURR is structured as an e-money token under the European Union's Markets in Crypto-Assets framework. Luxembourg's Commission de Surveillance du Secteur Financier lists Bridge Building as an active electronic money institution authorized on June 29, 2026, and separately as an active crypto-asset service provider with custody, exchange and transfer permissions.
Tokenholders can redeem EURR at par against Bridge at any time, subject to applicable terms. Bridge's reserve page states that funds backing EURR sit in segregated accounts at regulated credit institutions or in eligible, highly liquid euro-denominated instruments. As of Aug. 25, Bridge reported 374 EURR in circulation and €374 in reserve assets, all held as cash deposits, and identifies Ethereum and Polygon as EURR's chains. According to Revolut's company blog, EURR will initially launch on Ethereum.
Circle's EURC Still Leads the Field
By comparison, Circle reported €394.5 million of EURC in circulation as of Aug. 24, spread across Avalanche, Base, Cronos, Ethereum, Solana, Stellar and World Chain. Circle's euro stablecoin had an average market capitalisation of $430.4 million over the year through June 2026, ahead of Société Générale's EURCV at $137.8 million and Banking Circle's EURI at $51.1 million. EURC also led trading activity, with average weekly volume of about $34 million.
Bridge is authorized as an electronic money institution in Luxembourg, while Circle Internet Financial Europe SAS issues EURC under a license from France's Autorité de Contrôle Prudentiel et de Résolution. For EURR, Bridge carries the issuance and redemption role while Revolut supplies the brand and customer channel. Circle, meanwhile, has built EURC's distribution around exchanges, blockchain networks and DeFi infrastructure, whereas Revolut is bringing EURR directly into an existing financial app used across more than 40 markets.
Sources: The Defiant, CoinGape
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