Customers in Portugal of the first access to the new "tablecoin"
Revolut claims to have over 80 million private customers worldwide and over 16 million cryptoactive users.
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Summary
Revolut claims to have over 80 million private customers worldwide and over 16 million cryptoactive users. In May, the President of the European Central Band (ECB) questioned the need to replicate instruments developed elsewhere, in a reference to the 'tablecoins' cryptocurrencies, even in euro, stating that they may pose risks to financial stability and obstruct the transmission of monetary policy. Stablecoin is designed to maintain a value of one euro and is guaranteed by reservations maintained and managed by Bridge Building in accordance with the applicable regulatory requirements of the European Regulation.
Furthermore, In a statement released today, the company explained that EURR is issued by Bridge, a Stripe company, and is integrated into the application of the Revolution, allowing eligible customers to use an asset denominated in euros and move it between euros and cryptoactives. Customers in Portugal of the first access to the new "tablecoin". The company intends to develop other tablescoins in other currencies through separate regulatory channels and provides for a more comprehensive launch of EURR into the European Economic Area (EEA) later this year, subject to operational, product and regulatory preparation.
In addition, EURR will be supported by several blockchain networks and external portfolios, according to Revolution, which considers launching the first step of a more comprehensive strategy in the stablecoins segment. Lagarde warned that 'tablecoins' can lead to a weakening of confidence, transmit 'stress' to underlying asset markets by triggering mass refund claims, a risk that increases as the use of 'tablecoins' increases, particularly when issuers are not banks, adding that in cases of instruments issued jointly by EU entities and outside the bloc, investors will seek to withdraw their funds where protections are more solid in case of a bank race.
Cross-referenced from 3 sources.
Factual coreconfirmed by several independent voices
Revolut claims to have over 80 million private customers worldwide and over 16 million cryptoactive users.
reliability low1/3 sourcesIn May, the President of the European Central Band (ECB) questioned the need to replicate instruments developed elsewhere, in a reference to the 'tablecoins' cryptocurrencies, even in euro, stating that they may pose risks to financial stability and obstruct the transmission of monetary policy.
reliability low1/3 sourcesStablecoin is designed to maintain a value of one euro and is guaranteed by reservations maintained and managed by Bridge Building in accordance with the applicable regulatory requirements of the European Regulation.
reliability low1/3 sourcesIn a statement released today, the company explained that EURR is issued by Bridge, a Stripe company, and is integrated into the application of the Revolution, allowing eligible customers to use an asset denominated in euros and move it between euros and cryptoactives.
reliability low1/3 sourcesCustomers in Portugal of the first access to the new "tablecoin".
reliability low1/3 sourcesThe company intends to develop other tablescoins in other currencies through separate regulatory channels and provides for a more comprehensive launch of EURR into the European Economic Area (EEA) later this year, subject to operational, product and regulatory preparation.
reliability low1/3 sourcesEURR will be supported by several blockchain networks and external portfolios, according to Revolution, which considers launching the first step of a more comprehensive strategy in the stablecoins segment.
reliability low1/3 sourcesLagarde warned that 'tablecoins' can lead to a weakening of confidence, transmit 'stress' to underlying asset markets by triggering mass refund claims, a risk that increases as the use of 'tablecoins' increases, particularly when issuers are not banks, adding that in cases of instruments issued jointly by EU entities and outside the bloc, investors will seek to withdraw their funds where protections are more solid in case of a bank race.
reliability low1/3 sources
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