French Finance Minister Roland Lescure urged European banks to develop euro denominated stablecoins and tokenized deposits, backing the Qivalis bank consortium and the ECB’s digital euro as counterweights to dollar dominance onchain.
Lescure made the remarks on Friday in pre-recorded comments at a Paris crypto conference hosted by Societe Generale’s digital assets arm SG FORGE. The firm was the first systemic bank subsidiary to issue a stablecoin, EURCV, when it launched in 2023. The minister framed the initiative in sovereignty terms, calling the current imbalance between euro and dollar stablecoins “not satisfactory” and endorsing the Qivalis consortium of a dozen European banks including BNP Paribas, which plans to launch a euro stablecoin in the second half of 2026.
“That is what we need and that is what we want,” Lescure said of the bank-led initiative, according to Reuters. He also encouraged banks to explore tokenized deposits and voiced support for the ECB’s digital euro as the anchor for tokenization efforts, calling it “the right balance.”
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