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European Banks To Launch Euro Stablecoin In Bid To Counter US Dominance
Nine major European banks are creating a Netherlands-based company to launch a euro-backed stablecoin in 2026, aiming to counter U.S. dominance in the digital token market. Reuters reports: While global stablecoin issuance stands at nearly $300 billion, euro-denominated stablecoins totalled just $...
Nine major European banks are creating a Netherlands-based company to launch a euro-backed stablecoin in 2026, aiming to counter U.S. dominance in the digital token market. They launched the effort, which they said will create a token that can be used for quick, low-cost payments and settlements, even as the European Central Bank voices scepticism over stablecoins. ECB President Christine Lagarde in June told European policymakers that privately issued stablecoins posed risks for monetary policy and financial stability.
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