Olgierd via flickr
EURR is issued by Bridge, a division of the US-based company Stripe. Bridge will additionally own and oversee the assets supporting the stablecoin.
At first, it will be accessible to a restricted group of Revolut users in Denmark, Poland, and Portugal, with plans to broaden availability to additional markets within the European Economic Area (EEA) later this year.
EURR will be incorporated into the Revolut app, enabling users to swap euros for cryptocurrency and the other way around directly on the blockchain.
The firm characterizes its execution as the initial phase of its stablecoin plan, which involves introducing tokens linked to various currencies."Revolut commenced by eliminating concealed charges and obstacles to currency conversion," the firm stated in a communiqué. "We're currently applying the same approach to cryptocurrency.
"Finance Magnates, referring to official documents, states that EURR was introduced on August 20 and is marketed as Revolut Euro. The report indicates that the stablecoin can be found in the Revolut retail application and on the Revolut X crypto exchange.
source: bloomberg.com
At first, it will be accessible to a restricted group of Revolut users in Denmark, Poland, and Portugal, with plans to broaden availability to additional markets within the European Economic Area (EEA) later this year.
EURR will be incorporated into the Revolut app, enabling users to swap euros for cryptocurrency and the other way around directly on the blockchain.
The firm characterizes its execution as the initial phase of its stablecoin plan, which involves introducing tokens linked to various currencies."Revolut commenced by eliminating concealed charges and obstacles to currency conversion," the firm stated in a communiqué. "We're currently applying the same approach to cryptocurrency.
"Finance Magnates, referring to official documents, states that EURR was introduced on August 20 and is marketed as Revolut Euro. The report indicates that the stablecoin can be found in the Revolut retail application and on the Revolut X crypto exchange.
source: bloomberg.com