Revolut Rolls Out Euro Stablecoin EURR in Phases; ECB Stresses Digital Euro Privacy

The digital euro, issued by the European Central Bank (ECB) and representing public money, remains in its development phase; EURR, by contrast, is a stablecoin issued by private institutions and designed to maintain a value of 1 euro. Both target instant settlement needs on digital platforms. Fintech company Revolut has phased in its euro-denominated stablecoin EURR for eligible users in Denmark, Poland, and Portugal, with plans to expand across the European Economic Area. EURR is deployed on the Ethereum network and supports transfers between fiat currencies, crypto assets, external wallets, and supported blockchain networks. EURR is issued by Bridge Building, a Stripe-owned entity, rather than by Revolut directly. ECB Executive Board member Piero Cipollone stated that the digital euro would offer the highest level of privacy supported by current technology, with offline payments visible only to the payer and payee, while online transactions would still allow participating banks to access information required for anti-money laundering compliance.