The European Central Bank has strengthened its privacy commitments for a potential digital euro as Revolut has begun rolling out its first euro-backed stablecoin, EURR, to selected customers across three European markets.
Revolut said the stablecoin's rollout will start with a select group of customers within Denmark, Poland, and Portugal.
StablR suspended USDR and EURR operations after an attack that allowed minting approximately $13.5 million in tokens without the required backing. A flaw in the 1-of-3 multisig wallet configuration allowed attackers to compromise one key and remove the legitimate signers. The tokens lost up to 50% of their peg; USDR trades at $0.