# UK digital asset and stablecoin development > Live situation record from CLSTR: https://clstr.news/situations/uk-digital-asset-and-stablecoin-development > Updated: 2026-08-26T00:00:00.000Z. Sources: 25. Developments: 2. The United Kingdom is seeing increased activity in digital asset infrastructure and stablecoin development. The Bank of England has progressed to Phase 2 of its Digital Pound Lab, collaborating with a consortium including Polygon Labs, NOBO Finance, and Dun & Bradstreet to test digital payment interoperability and cross-border settlement models. Concurrently, fintech firm Revolut is expanding its digital asset offerings. Following its acquisition of a full UK banking license, Revolut has launched EURR, a euro-pegged stablecoin issued by Bridge, a company owned by Stripe. Regulated under the Markets in Crypto-Assets (MiCA) framework, EURR is designed to maintain a 1:1 value with the euro. The initial rollout of EURR is a pilot program available to selected customers in Denmark, Poland, and Portugal, with plans to expand across the European Economic Area (EEA) later in 2026. The token currently operates on the Ethereum and Polygon networks, with planned support for additional blockchains including Solana and Arbitrum. This launch follows Revolut’s decision to delist Tether’s USDT in certain European markets due to regulatory concerns. The company intends to develop further stablecoins tied to other major currencies, such as the US dollar and British pound, in the future. ## Timeline ### 2026-08-26: Revolut launches EURR euro-backed stablecoin in Europe Revolut has launched EURR, a MiCA-compliant euro-pegged stablecoin, initially available to select customers in Denmark, Poland, and Portugal, with plans for wider EEA expansion. 25 sources. https://clstr.news/cluster/revolut-expands-digital-asset-offerings-with-new-stablecoin-initiatives ### 2026-08-12: Bank of England Digital Pound Lab enters Phase 2 with Polygon Labs Polygon Labs, NOBO Finance, and Dun & Bradstreet have joined the Bank of England’s Digital Pound Lab to test stablecoin and digital pound interoperability for cross-border SME trade finance. 9 sources. https://clstr.news/cluster/bank-of-england-partners-with-polygon-labs-for-digital-pound-trial --- Cite as: UK digital asset and stablecoin development. CLSTR, https://clstr.news/situations/uk-digital-asset-and-stablecoin-development