Revolut has introduced EURR, a stablecoin pegged to €1, directly into its retail app for early customers in Denmark, Poland, and Portugal. This new access connects on-chain finance to the banking platform’s 80 million registered global users.
However, behind this European-licensed offering, primary control lies in the hands of a United States entity.
Consolidation with Stripe
The legal issuer behind EURR is Bridge Building S.A., a Luxembourg-based entity holding a Commission de Surveillance du Secteur Financier (CSSF) license as an electronic money institution and CASP. This entity is wholly owned by Bridge, the stablecoin infrastructure firm that Stripe acquired for $1.1 billion in October 2024 and completed in early February 2025.
In operation, Stripe is tasked with managing all EURR reserve funds, while Revolut acts as the retail distributor through its MiCA-licensed Cyprus subsidiary. According to Revolut Head of Crypto Emil Urmanshin, this division of labor connects customers to on-chain finance with real-world stablecoin utility unmatched by traditional banks or crypto-native players.
EURR is not confined to a single ecosystem, as the token is designed to run across multiple blockchains and is compatible with external wallets. Revolut aims to expand token access to all European Economic Area (EEA) countries and plans to issue other currency tokens by the end of the year, provided local regulatory readiness is sufficient. The company confirmed this in-house stablecoin project in mid-2025, running in tandem with the grant of its UK banking license that year.
Clashes at the Central Bank Level
Last May, European Central Bank President Christine Lagarde voiced critical views, calling euro stablecoins an inefficient route to strengthen the currency’s role in international markets. Lagarde warned of run risks in the $317 billion stablecoin market, 98% of which remained dominated by the US dollar at the time of her remarks.
Authorities in Brussels also plan to revamp MiCA regulations in 2027 to expand supervisory reach over foreign issuers. This regulatory overhaul targets operations like EURR because, even though Bridge Building issues the coin from its Luxembourg base, its ultimate corporate owner is a payment company from the United States.
The biggest challenge of this rollout is not just attracting users, but ensuring that European licensing arrangements and American capital can continue operating under Brussels’ tightened regulations.
Sourced from Decrypt.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
