ByCoinGape
Key Highlights
In a major move in the growing $300 billion stablecoin market, Revolut has launched its first euro-backed stablecoin, EURR.
This puts the fintech giant into an increasingly competitive European stablecoin market, currently led by Circle’s EURC.
The launch comes as euro-denominated stablecoins gain traction under Europe’s Markets in Crypto-Assets (MiCA) regulatory framework. The market remains small compared with dollar-backed stablecoins, but it is growing rapidly, with the market capitalisation of eight MiCA-compliant euro stablecoins rising 128% to $673.9 million over the year through June 2026. (decta.com)
Revolut has begun a phased rollout of EURR to eligible customers in Denmark, Poland and Portugal, with wider availability expected later this year.
As per the company blog, the stablecoin is issued by Bridge Building S.A., a Stripe company, and is designed to maintain a stable value of €1. Interestingly, EURR is being integrated directly into Revolut. This gives its customers an on-chain option to move between fiat, crypto, external wallets and supported blockchain networks.
Unlike most of the stablecoins currently dominating the market, EURR is designed around the euro. Revolut said the move will allow customers who earn, save and spend in euros to access blockchain-based money without first taking on dollar exposure. EURR will initially launch on Ethereum.
The move also forms part of a broader stablecoin strategy. Revolut said stablecoins tied to other currencies are already in development through separate regulatory pathways, suggesting EURR is intended to be the first step rather than a standalone product. (Revolut)
It is interesting to note that Revolut is entering a market that is currently led by Circle’s EURC.
Circle’s euro stablecoin has established a significant lead in the regulated market. EURC had an average market capitalisation of $430.4 million over the year through June 2026.
This is in comparision with $137.8 million for Société Générale’s EURCV and $51.1 million for Banking Circle’s EURI. EURC also led trading activity, with average weekly trading volume of about $34 million.
The euro stablecoin market has grown to $826.3M in onchain market cap
Circle remains the largest issuer with $525.4M, while Société Générale has become the second-largest issuer with $141.7M pic.twitter.com/7LPTwXJuhC
— Token Terminal 📊 (@tokenterminal) August 9, 2026
Circle says EURC is MiCA-compliant, fully backed by euros and redeemable 1:1 for euros. As of August 24, 2026, Circle reported €394.5 million of EURC in circulation.
Revolut’s entry therefore introduces another major competitor into a market that is expanding quickly under MiCA.
But the competition may not simply be about who can issue the biggest stablecoin.
Distribution could become the bigger battleground.
Circle has built EURC around exchanges, blockchain networks, DeFi and institutional infrastructure. EURC is currently available across multiple networks including Ethereum, Solana, Base, Avalanche and Stellar.
Revolut, meanwhile, is bringing EURR directly into an existing financial app. That’s an UI already used by more than 75 million customers across more than 40 markets, giving the stablecoin a potentially powerful consumer distribution channel from day one. That could make the latest launch significant for Europe’s stablecoin market.
The euro-stablecoin market is still tiny compared with the broader stablecoin economy, but its rapid growth under MiCA is attracting banks, fintechs and crypto companies. With Revolut now joining Circle, Société Générale, Banking Circle and other regulated issuers, Europe’s next stablecoin battle may increasingly be fought over users, liquidity and payments — not simply regulation.
Sneha Agrawal More Stories
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