According to ECB adviser Jürgen Schaaf, a digital euro alone won’t be enough to counter the growing influence of dollar-denominated […]
The post Europe’s Digital Euro Alone Won’t Stop the Dollar’s Stablecoin Dominance – Here is Why appeared first on Coindoo.
According to ECB adviser Jürgen Schaaf, a digital euro alone won’t be enough to counter the growing influence of dollar-denominated assets in the digital space.
In a post shared on the ECB’s official platform, Schaaf pointed to the need for a more diversified approach—one that includes the promotion of euro-pegged stablecoins, broader use of blockchain technology, and deeper regulatory alignment with global partners.
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Schaaf argued that regulated euro stablecoins could be better positioned than a central bank digital currency (CBDC) to meet real-world demands and support the euro’s international standing. He warned that European institutions risk falling behind if they remain passive in this rapidly evolving financial landscape.
Recent data shows that European stablecoins lag significantly in adoption compared to their U.S. counterparts, despite regulatory efforts like MiCA. Schaaf emphasized that both public and private innovation must work in tandem to protect European monetary sovereignty.
He also highlighted the promise of distributed ledger technology (DLT), citing two ECB-backed pilot projects—Pontes and Appia—as key to improving the efficiency of wholesale and cross-border payments.
A final decision on launching the digital euro is expected by late 2025. However, Schaaf made it clear: Europe’s answer to the dollar’s growing dominance in the crypto economy will likely require more than just one tool—it will demand a full strategic arsenal.
The post Europe’s Digital Euro Alone Won’t Stop the Dollar’s Stablecoin Dominance – Here is Why appeared first on Coindoo.
Source: https://coindoo.com/europes-digital-euro-alone-wont-stop-the-dollars-stablecoin-dominance-here-is-why/
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