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Crypto

Revolut launches euro-pegged stablecoin EURR

Fintech firm Revolut has launched its first euro-pegged stablecoin, EURR. Blockchain outlet U.Today reported that Revolut has joined the ranks of fintech firms issuing their own stablecoins. Revolut said EURR is designed to maintain the same value as 1 euro, providing users an additional payment option and enabling digital euros to be moved on-chain. Revolut said EURR was launched via a subsidiary regulated under MiCA rules.

Crypto

StablR euro, dollar stablecoins depeg; key management failure, not smart contract bug

StablR-issued euro and dollar stablecoins lost their pegs after a hack, with private key theft cited as the likely cause. Blockchain security firm Blockaid said it detected an exploit targeting the issuer and that about $2.8 million has been drained so far. The attacker minted 8.35 million USDR and 4.5 million EURR after altering a weak 1-of-3 multisig setup. EURR and USDR later fell sharply, CoinGecko data showed.