{"id":52154,"date":"2025-10-10T12:16:50","date_gmt":"2025-10-10T12:16:50","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=52154"},"modified":"2025-10-10T12:16:50","modified_gmt":"2025-10-10T12:16:50","slug":"europe-should-not-be-dependent-on-us-dollar-denominated-stablecoins-says-eu-official-ecb-extends-support","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=52154","title":{"rendered":"\u201cEurope should not be dependent on US dollar-denominated stablecoins,\u201d Says EU Official, ECB Extends Support"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">The 9th October 2025 Fintech Forum in Paris saw a top European Union official sounding the alarm, warning that the EU must accelerate its efforts to develop Euro-backed stablecoins \u2013 or risk US dominance in the global digital payment system.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Insisting on the importance of Euro-backed stablecoins, Pierre Gramegna, Managing Director of the European Stability Mechanism (ESM), said, \u201cEurope should not be dependent on US dollar-denominated stablecoins, which are currently dominating markets.\u00a0 Stablecoins are an inevitable part of this equation.!<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cIn a rapidly evolving financial landscape, Europe should do its best to facilitate the generation of euro-denominated stablecoins by domestic issuers,\u201d he added.<\/span><\/p>\n<p>So far, Euro stablecoins account for only $620 million of $300 billion market.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A historic morning in Paris \u2013 and a turning point for Europe\u2019s stablecoin future.<\/p>\n<p>At the opening of the Fintech Forum in Paris, Fran\u00e7ois Villeroy de Galhau, Governor of the Banque de France, delivered an unprecedented speech \u2013 the most forward-leaning ever by a European central\u2026 <a href=\"https:\/\/t.co\/Fx1c5PxNKr\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/Fx1c5PxNKr<\/a><\/p>\n<p>\u2014 Rapha\u00ebl Bloch <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f433.png\" alt=\"\ud83d\udc33\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@Raph_Bloch) <a href=\"https:\/\/twitter.com\/Raph_Bloch\/status\/1976344222560096587?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">October 9, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Paschal Donohoe, the president of the Eurogroup pointed out that \u201c<span style=\"font-weight: 400\">the digital euro could still be a net positive for commerce in the region.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400\">In July 2025, the European Central Bank (ECB) also called for stronger international coordination for stablecoin regulation.\u00a0<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-ai-crypto-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><strong>US Is Outpacing Europe In Digital Currency Race, Especially Since GENIUS Act<\/strong><\/h2>\n<p>Meanwhile, Fran\u00e7ois Villeroy de Galhau, Governor of the Banque de France, <a href=\"https:\/\/www.banque-france.fr\/en\/governors-interventions\/fintechs-and-sovereignty-three-pillars-be-strengthened-together\" rel=\"nofollow\" target=\"_blank\">said,<\/a> \u201cIf banks are looking at the dollar stablecoin market \u2013 why not? That\u2019s where the market is today. But they should equally focus on their natural market of tomorrow: euro stablecoins.\u201d The Governor even went further, describing the coexistence of tokenized deposits and euro stablecoins issued by regulated banks as essential to Europe\u2019s future monetary architecture. De Galhau said, \u201cWe could have both \u2013 but we must not end up with neither.\u201d<\/p>\n<p><span style=\"font-weight: 400\">The GENIUS Act lays out a simple rule: every stablecoin must be backed one-to-one with cash or liquid assets, and issuers must make those reserves public. US recently passed this stablecoin bill as a part of a broader package. Alongside the GENIUS Act, the House passed the CLARITY Act and the Anti-CBDC Surveillance State Act. The CLARITY Act would give the CFTC more control over crypto markets, while the Anti-CBDC bill aims to block any digital dollar efforts by the Federal Reserve.<\/span><\/p>\n<p><strong>Read More:\u00a0<a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/launch-of-euro-backed-stablecoin-in-h2-2026-nine-european-banking-giants-join-forces\/\">Launch Of Euro-Backed Stablecoin In H2 2026? Nine European Banking Giants Join Forces<\/a><\/strong><\/p>\n<h2 id=\"launch-of-euro-backed-stablecoin-in-h2-2026-nine-european-banking-giants-join-forces\">Launch Of Euro-Backed Stablecoin In H2 2026?<\/h2>\n<p>Nine of Europe\u2019s biggest banks\u2014including ING, UniCredit, Danske Bank, SEB, KBC, DekaBank, Banca Sella, and Raiffeisen Bank International\u2014have decided to collaborate on a euro-backed stablecoin.\u00a0Under the European Union\u2019s (EU) Markets in Crypto-Assets Regulation (MiCA) framework, the collaborating banks will roll out the\u00a0stablecoin in the second half of 2026. Will this be a game-changer for European crypto payments? \u00a0Will the euro-backed stablecoin reduce Europe\u2019s reliance on US dollar-denominated stablecoins?<\/p>\n<p>On 25 September 2025, ING\u00a0<a href=\"https:\/\/www.ing.com\/Newsroom\/News\/Nine-major-European-banks-join-forces-to-issue-stablecoin.htm\" target=\"_blank\" rel=\"nofollow noopener\">released<\/a>\u00a0the joint statement confirming that \u201cthe initiative will provide a real European alternative to the US-dominated stablecoin market, contributing to Europe\u2019s strategic autonomy in payments.\u201d<\/p>\n<p>According to the banking giants, the stablecoin will provide near-instant, low-cost payments and settlements. Furthermore, it will enable 24\/7 access to efficient cross-border payments, programmable payments, and improvements in supply chain management and digital asset settlements, which can vary from securities to cryptocurrencies.<\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">20+ Next Crypto to Explode in 2025<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">The digital euro is often seen as the EU\u2019s flagship response to US dominance.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">As the EU prepares to finalize its digital euro legislation and as major banks ready their stablecoin launch.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/europe-should-not-be-dependent-on-us-dollar-denominated-stablecoins-says-eu-official-ecb-extends-support\/\">\u201cEurope should not be dependent on US dollar-denominated stablecoins,\u201d Says EU Official, ECB Extends Support<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The 9th October 2025 Fintech Forum in Paris saw a top European Union official sounding the alarm, warning that the EU must accelerate its efforts to develop Euro-backed stablecoins \u2013 or risk US dominance in the global digital payment system. Insisting on the importance of Euro-backed stablecoins, Pierre Gramegna, Managing Director of the European Stability [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-52154","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/52154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52154"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/52154\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}