Revolut launched a new digital currency: EURR is pegged to the euro.
The British neobank Revolut has launched a new settlement system in circulation — the EURR stablecoin. The digital currency is pegged to the euro. The cryptocurrency issuer is the company Bridge. Bridge will carry out the management and safekeeping of the assets that fully back the new stablecoin.
Where EURR is available and how it works
At the first stage, access to the EURR stablecoin is provided to a limited number of users in several countries:
Denmark.
Poland.
Portugal.
Later this year, Revolut plans to expand access to the new financial instrument to other markets of the European Economic Area.
The new instrument has already been integrated into the Revolut mobile app. This allows users to exchange euros for cryptocurrency and vice versa. The company says this is the first step in a large-scale strategy to launch stablecoins pegged to other major currencies.
$EUR
The British neobank Revolut has launched a new settlement system in circulation — the EURR stablecoin. The digital currency is pegged to the euro. The cryptocurrency issuer is the company Bridge. Bridge will carry out the management and safekeeping of the assets that fully back the new stablecoin.
Where EURR is available and how it works
At the first stage, access to the EURR stablecoin is provided to a limited number of users in several countries:
Denmark.
Poland.
Portugal.
Later this year, Revolut plans to expand access to the new financial instrument to other markets of the European Economic Area.
The new instrument has already been integrated into the Revolut mobile app. This allows users to exchange euros for cryptocurrency and vice versa. The company says this is the first step in a large-scale strategy to launch stablecoins pegged to other major currencies.
$EUR
