Revolut Launches EURR Stablecoin

It's Wednesday, August 26, 2026.

Revolut launches its EURR stablecoin on Ethereum and Polygon. A manipulated Pendle PT asset triggers a Morpho liquidation. And the Tornado Cash retrial is rescheduled to 2027.

Revolut EURR Stablecoin

Revolut launched EURR, a euro-pegged, MiCA-compliant stablecoin now live on Ethereum and Polygon. The stablecoin is rolling out to users inside the Revolut app, its neobank platform with over 50 million users globally. EURR is issued by Bridge, the Stripe-owned entity behind branded stablecoins like MetaMask USD.

Bridge holds the reserves and handles redemptions. The stablecoin lets users move between euros and crypto assets without first converting to a USD stablecoin. The long brings Revolut alongside Circle and Tether in the euro stablecoin market. Revolut is also planning to issue stablecoins tied to other fiat currencies. While stablecoin expansions are great, it's important to remember the censorship and counterparty risks associated with centralized stablecoins.

Pendle PT-reUSD Liquidation On Morpho

A trader was able to liquidate approximately $36 million in looped positions across Morpho reUSD Principle Token (PT-reUSD) markets curated by Steakhouse Financial. Closely linked wallets funded with $1 million purchased a significant amount of the reUSD Yield Token (YT-reUSD) with a December 10, 2016 maturity date, which decreased the price of the corresponding reUSD Principle Token (PT-reUSD) by approximately 3%.

The decrease impacted the 15-minute TWAP prices used in the PT-reUSD market, resulting in liquidations for highly levered borrowers with low health scores. A related wallet was the primary liquidator for those positions, capturing most of the seized collateral and realizing an estimated profit of roughly $1 million. Leveraged borrowers, roughly 12–20 distinct borrower positions, lost an estimated $1.25 million.

Notably, no smart-contract exploit occurred, no bad debt was created, and the reUSD asset is unaffected. Stakehouse Financial said lender positions on vaults allocating to the markets are not impacted. UPDATE: This summary was updated to reflect that PT-reUSD decreased (not increased) by ~3%, triggering the liquidations.

Tornado Cash Retrial Pushed To 2027

Judge Katherine Polk Failla postponed the Tornado Cash retrial from this October to April 26, 2027, citing an acquittal motion that has been pending for over a year. Storm was convicted in August 2025 on one count of unlicensed money transmitting and the jury deadlocked on more serious money laundering and sanctions evasion charges. A new case finding shows that Chainalysis ran its own Tornado Cash relayer and earned fees on it during the same period covered by the case.

Misc News

Ethlabs outlines its engagements for a faster Ethereum. $2b USDT disappears onchain. DeFi Saver supports Morpho midnight. Bitwise launches Automated Token Portfolios (ATPs). And Kleros launches Agent Court.

Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created.