Revolut has started a phased rollout of its first euro stablecoin, EURR, in Denmark, Poland and Portugal, days before the European Central Bank set out the privacy terms it plans to attach to a digital euro. The two use different structures, and both target euro-denominated digital payments, an area that matters to any gambling operator handling crypto deposits.
EURR tracks €1 and launched on Ethereum, with support for further networks and external wallets. Revolut distributes the token through its app to a customer base of 80 million globally, and plans wider European Economic Area access later in 2026. Further currency-denominated stablecoins are expected from the company in the same period.
A licensed issuer sits behind the token
Revolut is not the issuer. EURR is issued by Bridge Building S.A., part of Stripe-owned Bridge, which holds Markets in Crypto-Assets (MiCA) and electronic money institution licences in Luxembourg. That gives the token a passported route across the EU and puts reserve, redemption and disclosure obligations on the issuer rather than on the distributor.
The split matters for anyone assessing counterparty risk. Under MiCA, an e-money token must be redeemable at par on demand, with reserves held separately from the issuer’s own funds. Revolut’s role is distribution and wallet access.
“EURR connects 80 million Revolut customers directly to onchain finance,” said Emil Urmanshin, Head of Crypto at Revolut.
Euro stablecoins are growing from a small base
The compliant euro stablecoin market is still small. Combined market value across eight MiCA-compliant euro tokens rose 128% year on year, from €295.6 million on 30 June 2025 to €673.9 million on 28 June 2026, according to payments firm Decta. Trading volume over the same period rose 43.1%, from $47 million to $67.3 million, and the number of compliant tokens with active data went from five to eight.
Under €700 million in supply is a fraction of the wider stablecoin market, which is dominated by dollar-pegged tokens. For operators taking crypto deposits, that has meant pricing and settling in dollars while accounting in euros, and carrying the conversion cost. A regulated euro unit distributed by a bank-licensed fintech changes the options on that specific problem, if supply grows.
ECB sets out what a digital euro would and would not see
ECB Executive Board member Piero Cipollone said offline digital euro payments would keep transaction details between payer and recipient. For online payments, banks and other intermediaries would still run identity checks and anti-money laundering (AML) obligations, but the Eurosystem itself would not directly identify users.
“The digital euro guarantees the maximum level of privacy that current technology can offer,” Cipollone said.
The ECB aims to start a 12-month pilot in the second half of 2027, with possible issuance around 2029 if the EU legislation is completed. The legislative file remains with the European Parliament and Council, so the 2029 date is conditional, not scheduled.
A digital euro would differ from EURR in what backs it. It would be central bank money, a direct claim on the Eurosystem, where a stablecoin is a liability of a private issuer backed by reserves.
What it means for gambling payments
Neither product is aimed at gambling, and neither removes an operator’s licensing or AML duties. The relevance is in how deposits and withdrawals settle. A MiCA-regulated euro token gives payment teams a settlement asset with a named, supervised issuer and an at-par redemption right, which is a different compliance conversation from the one operators have had over offshore dollar tokens.
Regulators have already started writing rules for this. The Curaçao Gaming Authority set crypto rules for its B2C licensees earlier this year, covering how licensees handle digital assets on their platforms. Suppliers are building for the same demand, with Delbet expanding its crypto gaming platform and BiggerZ building a crypto casino and sportsbook around blockchain settlement.
EURR is live in three markets on a phased basis, and Revolut has not given a date for full EEA availability. The ECB’s pilot is more than a year out and its issuance date depends on a law that has not passed. Payment teams in regulated European markets have time to assess both, and a live euro token to test against in the meantime.
Source: Revolut
