In brief
- The U.S.’s recently passed stablecoin law has heightened pressure on Europe to accelerate digital euro plans.
- Deploying on Ethereum or Solana could expand global use of the currency, Decrypt was told.
- Yet privacy, governance and banking stability remain key concerns for officials.
European officials are considering whether to issue the digital euro on public blockchains like Ethereum or Solana, in a departure from earlier plans for a closed, centrally run system.
The debate has intensified in recent weeks ever since the U.S. passed its first stablecoin law in July, giving regulated dollar-backed tokens a head start in global finance.
Ram Kumar, a core contributor at blockchain infrastructure firm OpenLedger, told Decrypt that deploying the euro on a public chain would dramatically expand its reach.
“It would open the euro to the wider crypto economy instantly,” Kumar said. “It could plug into DeFi, global wallets, and cross-border payments without needing to build that infrastructure from scratch.”
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Author: Vince Dioquino
