Revolut USD Stablecoin (USDR) pre-launch stablecoin tracker
USDR is Revolut's USD e-money token, named in its EEA terms with Stripe's Bridge as legal issuer; no white paper, contract, chain or launch date is public.
Phase
Current launch phase
Target launch
Target drift
Moved 1× · last Sep 13, 2026
Since announcement
Announced Oct 23, 2025
Live surfaces
Activates at launchPrice & peg · Supply & flows · Liquidity · Safety Score · DEWSA Revolut-Branded Dollar With Bridge as Issuer
Revolut's EEA crypto terms of September 15 2026 name USDR, beside the live euro EURR, as one of two Revolut-branded e-money tokens. They make Bridge Building S.A., Stripe-owned Bridge's e-money institution in Luxembourg, the sole legal issuer, with exclusive financial liability for the reserves. Revolut Digital Assets Europe, authorised by CySEC, acts only as offeror. A holder's right runs directly against Bridge, at par and free of charge. On September 2 2026 the OCC conditionally approved Revolut Bank US, N.A., with opening targeted for the first half of 2027. The decision records that the bank plans to offer Revolut-branded stablecoins through a third party, will not be the issuer, and will not manage reserves. Pharos moved the expected launch to 2027 on the strength of that timeline. Reserve composition, custodians and safeguarding arrangements for USDR are unpublished. ESMA's register listed a white paper for EURR but none for USDR on October 30 2026, and no USDR contract, chain or launch date had been published. Under Revolut's own terms, no Revolut e-money token is offered before its white paper is published.
· AI summary · drafted by claude-opus-5-5 · facts as of 2026-11-01
AI policy
USDR Launch path
Announced phase, targeting 2027 after 1 target move; 10 milestones logged since Oct 23, 2025.
Target history (1)
- 2026retired Sep 13, 2026
- 2027current target
Launch status narrative
Companion to the already-tracked RGBP (Revolut GBP). Revolut secured a MiCA CASP licence from Cyprus (CySEC) on Oct 23 2025. 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. 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. On September 2 2026 the OCC granted preliminary conditional approval for Revolut Bank US, N.A. (Corporate Decision #1390), with opening targeted for the first half of 2027; the decision records that the bank plans to offer Revolut-branded stablecoins through a third-party issuer and will not manage reserves, matching the Bridge template used for EURR. Pharos moved the expected launch to 2027 on September 13 2026 on the strength of the OCC timeline. Revolut's EEA cryptocurrency terms of September 15 2026 name USDR alongside EURR as Revolut-branded e-money tokens, with Bridge Building S.A., an EMI authorised by Luxembourg's CSSF under licence W00000024, as sole legal issuer and Revolut Digital Assets Europe, the CySEC-authorised CASP, acting only as offeror. The terms say each Revolut EMT is offered only once its white paper is published. As of October 30 2026 ESMA's register held no USDR white paper, and no USDR contract, chain or launch date had been published.
Launch status: quick answers
- When will USDR launch?
- Pharos records USDR in the announced phase. It was announced on Oct 23, 2025. The current launch target is 2027, after 1 earlier target. Targets come from issuer statements; Pharos does not estimate launch dates.
- Who issues USDR?
- USDR is Revolut's USD e-money token, named in its EEA terms with Stripe's Bridge as legal issuer; no white paper, contract, chain or launch date is public.
- Is USDR live yet?
- Pharos lists USDR as pre-launch (the announced phase): no price and market-cap source is admitted for it yet, so Pharos shows no price, supply, liquidity or Safety Score. Live tracking starts once both can be verified.
USDR Activity
- Announcement
Revolut's EEA crypto terms name USDR as a Bridge-issued e-money token
Revolut Digital Assets Europe's cryptocurrency terms for the EEA define EURR and USDR as the Revolut-branded e-money tokens, with Bridge Building S.A. as legal issuer and Revolut Digital Assets Europe acting only as offeror. Holders may redeem a Revolut EMT directly from Bridge at par and free of charge. As of October 30 2026 ESMA's register listed only EURR for Bridge, and no USDR white paper, contract or launch date had been published.
Source - Regulatory
OCC conditionally approves Revolut Bank US; stablecoins to be issued by a third party
OCC Corporate Decision #1390 grants preliminary conditional approval to charter Revolut Bank US, N.A., subject to at least $95M paid-in capital, FDIC insurance, and Federal Reserve approval; management targets opening in the first half of 2027. The decision states the bank plans to offer Revolut-branded stablecoins through a third party, will not be the issuer, and will not manage any reserves, limiting its role to marketing, access, and custody via Revolut Ltd.
Source - Milestone
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.
Source - Milestone
Revolut 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.
Source - Announcement
Revolut 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.
Source
Earlier activity (5)
- Regulatory
Revolut 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.
Source - Regulatory
Revolut 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).
Source - Regulatory
FCA 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.
Source - Regulatory
Revolut 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.
Source - Milestone
EU 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.
Source
Featured coverage
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.
OCC Corporate Decision #1390: conditional approval of Revolut Bank US, N.A.
Regulatory decision recording that Revolut-branded stablecoins would be issued by a third party with no reserves managed by the bank.
Other coins using the USDR ticker
- Ring USD (USDR) · Active · US Dollar. USDR is Ring Protocol's centrally controlled synthetic-dollar token.
- RISE Dollar (USDR) · Active · US Dollar. RISE's USDR wraps M0's M on RISE.
- StablR USD (USDR) · Frozen · US Dollar. USDR is StablR's MiCA-licensed dollar e-money token.