Ethena Labs has launched the beta version of Ethena Pay, a self-custodial payment app, on Avalanche, covering 48 countries. The app integrates the synthetic dollar USDe, offering up to 6% APY and 10% cashback. It features instant global transfers, three membership tiers, and is available on iOS and Android. USDe's circulating supply stands at around $4 billion.

Europe's digital currency market is developing along two parallel tracks: the European Central Bank's digital euro and privately issued euro stablecoins. Revolut has started phased testing of its EURR stablecoin in Denmark, Poland and Portugal. EURR runs on Ethereum and is issued by Bridge Building, a Stripe company. The ECB stressed that the digital euro will be built with strong privacy protections. Offline payment data will be known only to the two parties involved, and online transactions could not be directly associated with individuals by the Eurosystem. Those privacy features apply to the official digital euro, while the private stablecoin track now has a live test in three European markets. Europe is using both public digital money and private stablecoins to move its digital payment system forward. The goal is to reduce reliance on dollar-backed stablecoins and payment infrastructure operated outside Europe.

Europe’s digital currency market is moving on two parallel tracks, with the European Central Bank advancing the digital euro while private companies push euro-denominated stablecoins. According to Odaily, Revolut has already started phased testing of EURR in Denmark, Poland, and Portugal. The euro stablecoin runs on Ethereum and is issued by Bridge Building, a Stripe unit. At the same time, the ECB has stressed that the digital euro will be built with a high level of privacy. It said offline payment data would be known only to the two parties to a transaction, while even online transactions could not be directly linked to individuals by the Eurosystem. Europe is using both public digital money and private stablecoins to develop its digital payments system and reduce reliance on U.S. dollar stablecoins and non-European payments infrastructure.

WuBlockchain’s latest roundup pulled together a wide set of policy, payments, exchange and project developments across the crypto market. Forbes reported that Europe is moving on two fronts at once: a public digital euro led by the European Central Bank and private euro stablecoins already entering phased rollout, including Revolut’s EURR on Ethereum issued by Stripe-owned Bridge Building. Separately, stablecoin card provider Redot said cumulative spending through global stablecoin payment cards has passed $10.9 billion, citing Paymentscan data, while arguing that clearer rules, better user experience and improved fiat on- and off-ramps are driving adoption. The digest also highlighted a public rebuttal from Tether CEO Paolo Ardoino to comments from the Bank for International Settlements, arguing that fully reserved stablecoins backed by liquid assets are safer than tokenized bank deposits built on fractional-reserve banking. In South Korea, the four largest KRW exchanges — Upbit, Bithumb, Coinone and Korbit — held about $3.4 billion in staked crypto assets as of the end of July, with 1.2255 million staking users. Vietnam, meanwhile, has not issued its first crypto exchange license, though five companies have already passed the first round of review. The weekly project section covered LayerZero’s planned institutional blockchain exchange, Grayscale’s Zcash ETF launch, Ethena governance and treasury changes, Lido’s revised EarnETH fees, Coinbase tokenized stocks on Base, World Liberty Financial’s conditional OCC approval, Lisk’s DAO shutdown proposal, The Sandbox’s SAND reimbursement plan, and USDe’s growth on Robinhood Chain.

Europe is building a two-track digital currency system that combines a central bank digital currency with competing private euro stablecoins, as dollar-pegged tokens continue to dominate on-chain payments. The European Central Bank is making privacy a central design pillar for the digital euro. ECB Executive Board member Piero Cipollone said the digital euro will offer the highest level of privacy achievable with current technology, with offline payments visible only to the payer and payee. For online transactions, the eurosystem cannot directly identify individuals, but banks would still receive anti-money laundering information. In the private sector, Revolut has begun rolling out its EURR stablecoin to some users in Denmark, Poland and Portugal, with plans to extend it across the European Economic Area. EURR operates on Ethereum and is issued by Bridge Building, a Stripe-owned firm, designed to keep a stable 1:1 value with the euro. Forbes points out that the two projects are not substitutes: the digital euro is public money issued by a central bank, while EURR is a privately issued on-chain token. The market is therefore advancing along both models at the same time, with competition focusing on privacy, usability, regulatory clarity and actual economic value. The parallel development reflects Europe's effort to assert its own monetary standards in a market long shaped by dollar stablecoins.

Revolut has introduced its euro-pegged stablecoin, EURR, on Ethereum and Polygon, with a circulating supply of roughly 251,000 tokens and a market cap of about $290,000. The stablecoin is initially being offered to around 2 million users in Denmark, Poland and Portugal. Issued by Luxembourg-based Bridge Building S.A., EURR operates under the EU's MiCA framework. Revolut is also phasing out USDT across the European Economic Area and Switzerland to stay compliant, with plans to expand blockchain and external wallet support.

Circle has launched native USDC and EURC on Plasma, while integrating CCTP and Bridge Kit into the network. Institutional users can use USDC for fiat on-ramps and off-ramps, deposits and withdrawals, and API access on Plasma. Retail users can use USDC through the Plasma One web application and a card. After the rollout, Circle lists 37 chains with native USDC support, 8 chains with EURC support, and 28 chains connected to CCTP.

Revolut has begun a phased rollout of its euro-denominated stablecoin EURR to eligible users in Denmark, Poland, and Portugal, with plans to extend access across the European Economic Area. The token runs on Ethereum and is designed for on-chain transfers between fiat, crypto assets, external wallets, and supported blockchain networks. EURR is issued by Bridge Building, a Stripe-owned company, rather than directly by Revolut. At the same time, the European Central Bank said the digital euro remains under development and would represent public money, while EURR is a privately issued stablecoin intended to maintain a value of 1 euro. ECB Executive Board member Piero Cipollone said the digital euro would offer the highest level of privacy supported by current technology, with offline payments visible only to payer and payee, while banks in online transactions would still have access to information needed for anti-money laundering compliance.