Revolut’s euro stablecoin EURR launches with $290K market cap and a very long runway

Revolut has entered the stablecoin arena with a soft launch. Its new euro-pegged token, EURR, currently sits at a market cap of roughly $290,000, with about $585,800 in transfers over the past 30 days. For a company serving over 80 million retail customers, those are training-wheels numbers. EURR rolled out to select customers in Denmark, Poland, and Portugal starting around August 20, with a phased expansion beginning August 26. The initial audience: approximately 2 million users, a fraction of Revolut’s total base, with a wider rollout across the European Economic Area expected later this year. What EURR actually is EURR is a 1:1 euro-pegged stablecoin, fully collateralized by euro cash reserves held in segregated accounts. As of August 28, there were exactly 250,961 EURR tokens in circulation, matching €250,961 in equivalent cash deposits. The token lives on Ethereum and Polygon, with plans to expand to additional chains down the line. Revolut has also signaled that compatibility with external wallets will improve over time, though for now the token functions primarily within the Revolut app and its Revolut X trading platform. The issuer behind EURR is Bridge Building S.A., a Lu...