In a blog post, “From hype to hazard: what stablecoins mean for Europe”, Jürgen Schaaf, a European Central Bank Adviser, suggested that one potential response to Trump’s stablecoin push is to provide more support for regulated euro stablecoins.
He positioned stablecoins as complementing the digital euro project, while maintaining that the CBDC will help defend Europe’s monetary sovereignty. This openness to private payment initiatives alongside public ones is refreshing.
Given the ECB is moving forward on wholesale DLT settlement projects using central bank money, this was an area where he was particularly upbeat. He wrote that “increased use of distributed ledger technology (DLT) in wholesale financial markets is critical to maintaining relevance in the future financial infrastructure.”
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