Revolut is launching a euro stablecoin into a market MiCA handed to an American company
Revolut is preparing to launch a euro-backed stablecoin, leveraging its extensive banking licenses to challenge the current market dominance of Circle’s EURC. This move comes as European MiCA regulations have inadvertently consolidated the euro stablecoin market around US-based issuers, creating a strategic opening for a European neobank. Revolut holds a full UK banking license, an EU banking license, and MiCA authorization, allowing it to issue regulated instruments directly on its own balance sheet. With 65 million users across 38 countries, Revolut possesses a distribution advantage that traditional crypto-native issuers lack. The company is simultaneously participating in the ECB’s digital euro pilot and the FCA’s stablecoin regulatory sandbox, positioning itself at the intersection of private and public digital currency development. By owning the currency issuance process, Revolut aims to bolster its valuation ahead of a potential $200bn IPO. While specific details regarding blockchain integration and reserve management remain unconfirmed, the initiative represents a significant shift in how neobanks integrate RWA tokenization into their core financial services.
