EU Pushes for Euro Stablecoins to Rival Dollar

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The EU should foster euro-denominated stablecoins to reduce reliance on USD-backed tokens, according to Pierre Gramegna, head of the European Stability Mechanism.

“Stablecoins are inevitable. Europe must support domestic issuers,” he told lawmakers, warning that foreign stablecoins could drain eurozone liquidity.

With the digital euro CBDC delayed until 2029, euro stablecoins could play a strategic role. Officials pointed to U.S. stablecoin dominance under the GENIUS framework as a wake-up call for Europe to act quickly.

[alex10]

The EU wants its own digital dominance now. A Euro-backed stablecoin could reduce dependence on USD in cross-border trade.

[jacson4]

Competing with the dollar won’t be easy, but regulatory clarity gives the EU a strong starting advantage.