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EU Central Bank Warns of Dollar Stablecoin Risks
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The European Central Bank (ECB) warns that US dollar-backed stablecoins could undermine monetary policy in Europe.99% of the $300B stablecoin market is dollar-denominated
Euro-backed stablecoins: only €350M ($405M)
ECB concern: heavy reliance on dollar stablecoins could weaken control over monetary conditions, especially during crises
European stablecoin issuers argue that a strong European stablecoin ecosystem, not just a digital euro, is key to maintaining financial sovereignty.
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Dependence on dollar-backed stablecoins could limit Europe’s monetary independence.
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