Revolut is launching a euro stablecoin into a market MiCA handed to an American company

Revolut will launch a euro-backed stablecoin using its UK and EU banking licences and a MiCA authorisation obtained through Cyprus. It is joining the ECB’s digital-euro pilot and aims to compete with Circle’s EURC, which has over €400 million in circulation. Revolut’s large user base and pending IPO give it a commercial edge as regulators plan revisions to the framework by 2028.