Revolut USD Stablecoin (RUSD) Pre-launch Stablecoin Tracker
RUSD
Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.
Full launch status and history
Companion to the already-tracked RGBP (Revolut GBP). Revolut secured a MiCA CASP licence from Cyprus (CySEC) on Oct 23 2025 and operates an existing EMI licence in Lithuania, the legal foundations for issuing e-money tokens under MiCA Title IV. In October 2025, Revolut launched fee-free 1:1 USD↔stablecoin swaps (USDC/USDT on Ethereum, Solana, and Tron) for its 65M users; stablecoin payment volumes on the platform surged 156% in 2025 to ~$10.5B. In February 2026, the FCA selected Revolut as one of 4 firms (from 20 applicants) for a UK stablecoin payment testing pilot, though that sandbox is specifically for a GBP token, not USD. Revolut received a full UK banking licence from the PRA (Mar 11 2026) and filed an OCC national bank charter application for Revolut Bank US, N.A. (Mar 5 2026, targeting a 2027 US launch with built-in stablecoin access). Revolut's stablecoin programme shipped on August 26 2026, but in euro rather than dollars. EURR launched on Ethereum in a phased rollout to Denmark, Poland, and Portugal, with Solana, Arbitrum, Optimism, Avalanche, Injective, TON, and Sui support planned, alongside the removal of Tether's USDt from Revolut's European retail offering by August 31 2026. Critically, EURR is issued by Bridge Building S.A., the Luxembourg entity of Stripe-owned Bridge, with Revolut Digital Assets Europe authorised through CySEC. Revolut's Lithuanian EMI was not the issuer of record, contrary to earlier reporting. That correction matters for RUSD: the nearest live precedent for a Revolut dollar token is a third-party MiCA issuer relationship rather than in-house EMT issuance. A Revolut-branded proprietary USD stablecoin still has not been confirmed, and its ticker, chain selection, issuer entity, and reserve disclosure model all remain unannounced.
At a Glance
- Backing
- Real-World Asset Backed
- Governance
- Centralized (CeFi)
- Peg Currency
- US Dollar
- Jurisdiction
- Cyprus / Lithuania (CySEC (MiCA CASP) and Bank of Lithuania (EMI))
Launch Timeline
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Revolut completes removal of Tether USDt from its European retail offering
Revolut finishes the phased withdrawal of USDt for European retail customers that began in July 2026, coinciding with the EURR rollout and leaving MiCA-compliant tokens as the euro-stablecoin option on the platform.
SourceRevolut launches EURR euro stablecoin issued by Stripe's Bridge, not its Lithuanian EMI
Revolut ships the first token of its stablecoin programme as the euro-denominated EURR on Ethereum, phased to customers in Denmark, Poland, and Portugal with wider EEA availability planned later in 2026. The token is issued by Bridge Building S.A., the Luxembourg entity of Stripe-owned Bridge, under MiCA, with Revolut Digital Assets Europe authorised through CySEC, correcting the prior assumption that Revolut would issue e-money tokens from its own Lithuanian EMI. Support for Solana, Arbitrum, Optimism, Avalanche, Injective, TON, and Sui is planned, and Revolut applies no spread or fee on euro-to-EURR conversion. No USD-denominated equivalent was announced.
SourceRevolut confirms its planned US national bank will offer stablecoin services alongside FDIC-insured accounts
Reuters reports Revolut Bank US, N.A. (OCC charter applicant) will offer stablecoin services alongside FDIC-insured products from day one, though own-issuance of a Revolut USD token remains unconfirmed; the USD path continues to run through the Lithuanian EMI / MiCA EMT route.
SourceRevolut receives full UK banking licence from the PRA
Revolut exits mobilisation; 13M UK customers gain FSCS protection. A GBP stablecoin would be issued from Revolut's e-money entity, not the UK bank.
SourceRevolut files OCC national bank charter application (Revolut Bank US, N.A.)
Revolut applies for a US national bank charter with a $500M investment commitment, targeting a 2027 US bank launch with built-in stablecoin access (third-party USDC/USDT, not confirmed own issuance).
SourceFCA selects Revolut for UK stablecoin payment testing pilot
Revolut is one of 4 firms chosen from 20 applicants to trial stablecoin products in real-world UK conditions from Q1 2026; use cases include stablecoin payments, wholesale settlement, and crypto trading. Results will inform the FCA's crypto regulatory framework targeting October 2027.
SourceRevolut Digital Assets Europe receives MiCA CASP licence from CySEC
Revolut's Cyprus entity gets MiCA authorisation to passport regulated crypto services across the EEA; unveils 'Crypto 2.0' platform with 1:1 stablecoin/USD conversion as a flagship feature.
SourceEU counsel describes a Revolut USD/EUR stablecoin in 2026 as 'plausible' under MiCA
Decrypt reports Revolut's Lithuanian EMI provides the EMT issuer foundation; Cyprus CASP licence is the service-provider side; sources say Revolut has been working on its own stablecoin for over a year.
SourceRevolut Dollar Precedent From EURR
Revolut's USD stablecoin is still unannounced, and the August 2026 launch of its euro sibling made the shape of any dollar token considerably clearer, mostly by invalidating the assumption everyone was working from. The legal substrate looked settled: a MiCA CASP licence from CySEC in October 2025, plus Revolut's Bank-of-Lithuania EMI supplying the e-money-token issuer foundation MiCA Title IV requires. Then Revolut shipped EURR on August 26 and the issuer of record turned out to be Bridge Building S.A., the Luxembourg entity of Stripe-owned Bridge, under a CSSF licence, with Revolut Digital Assets Europe merely distributing. Revolut, holding every licence it needed to issue in-house, chose to rent the issuance instead. That reframes RUSD: the nearest live precedent for a Revolut dollar is a third-party regulated-issuer relationship, which trades balance-sheet control and reserve-disclosure ownership for speed to market. The counterparty question for RUSD therefore shifts to whether Revolut is content to have Stripe's infrastructure sitting between its 65 million users and their rights. Revolut's US path runs separately through an OCC charter application targeting a 2027 launch with stablecoin services from day one: third-party tokens, not confirmed own issuance. Ticker, chain, issuer entity, and reserve and disclosure model for a USD token all remain unannounced, and the euro launch suggests that reserve disclosure and custody will be the key uncertainties.
Updated
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Revolut launches euro-backed stablecoin EURR
Revolut's first stablecoin ships in euro on Ethereum, issued by Stripe's Bridge under MiCA and phased to Denmark, Poland, and Portugal, leaving a Revolut USD token still unannounced.
Revolut secures MiCA license in Cyprus, expanding regulated crypto services across Europe
CySEC MiCA authorisation lets Revolut passport regulated crypto services across the 30 EEA countries; 65M global users; Crypto 2.0 platform unveiled alongside.
Revolut secures MiCA license in Cyprus, is a stablecoin next?
EU counsel describes a Revolut stablecoin in 2026 as 'plausible' under MiCA; clarifies that the Cyprus CASP licence does not itself authorise issuance, which must come via Revolut's Lithuanian EMI.
Revolut Plans 2027 US Bank Launch With Stablecoin Services Built In From Day One
Revolut's US bank to offer stablecoin services alongside FDIC-insured products: Reuters
Reuters reports Revolut's planned US national bank will integrate stablecoin services with FDIC-insured accounts from launch; own-issuance of a Revolut USD token remains unconfirmed.
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