Revolut has launched its own euro-pegged stablecoin. What is the outlook for this market?

British fintech startup Revolut has announced the launch of its own stablecoin—a cryptocurrency whose value is pegged to that of a real currency. In doing so, the company joins other global banks and payment services entering this market, according to Bloomberg. The company is banking on digital money playing an increasingly important role in a wide range of areas, from cross-border transfers to business transactions.

On August 26, Revolut began a phased rollout of its first stablecoin, EURR, which is pegged to the euro, according to a Revolut statement published on the Disruption Banking portal. The press release is also cited by Bloomberg. Initially, Revolut’s stablecoin will be available to eligible customers in Denmark, Poland, and Portugal. The company plans to expand access to the token to other countries in the European Economic Area later this year—without specifying a specific timeline.

The company first announced its plans to issue its own token on August 7. The launch of EURR is described as the “first step” in Revolut’s broader strategy, which involves creating tokens pegged to other currencies as well. The EURR will be integrated into the Revolut app, allowing customers to freely exchange real euros for the cryptocurrency directly on the blockchain.

“Back when it first launched, Revolut freed customers from hidden fees and barriers when exchanging fiat currencies,” said Iman Olya, head of the stablecoin division at Revolut. “Now we’re doing the same for the crypto market.”

The issuer of EURR is the infrastructure company Bridge (owned by Stripe). It will also hold and manage the reserve assets backing the token.

Revolut is entering an increasingly competitive market: over the past year, giants such as Visa and Klarna, as well as a number of international banks, have announced the launch of their own stablecoins, according to Bloomberg. While stablecoins were previously used primarily for crypto trading, they are now increasingly viewed in traditional finance as a fast and cost-effective tool for transfers and payments.

Nevertheless, as Bloomberg points out, there are signs of stagnation in the stablecoin market—even though U.S. President Donald Trump secured the passage of legislation to regulate them more than a year ago (which marked a major breakthrough for this asset class).

According to data from the DefiLlama platform, as cited by Bloomberg, the total market capitalization of stablecoins leveled off in 2026 after several years of rapid growth. Visa statistics, which reflect actual token usage, also point to a slowdown in transaction volumes this year following a sharp surge in mid-2023.

Three years after PayPal launched its stablecoin, Tether’s USDT and Circle’s USDC continue to dominate the market. According to DefiLlama estimates, they collectively account for more than 85% of all stablecoins in circulation. The share of euro-pegged tokens in the total market volume remains insignificant for now.

This article was AI-translated and verified by a human editor