According to CoinMeta, the renowned fintech company Revolut announced the launch of its first euro-backed stablecoin, EURR. This stablecoin will be pegged to the value of 1 euro, providing users with an additional payment option. Revolut stated that EURR is intended to offer on-chain access to eligible users, facilitating the transfer of digital euros between cryptocurrencies, external wallets, and supported blockchain networks. This move marks a further expansion of Revolut in the crypto industry and is also launched through its Digital Assets Europe Limited, which has obtained regulatory approval as a crypto asset service provider from the Cyprus Securities and Exchange Commission (CySEC).