🇪🇺🇺🇸 Pierre Gramegna, General Director of the European Stability Mechanism (ESM), stated that the European Union should promote the development of stablecoins denominated in euros to reduce dependence on dollar-denominated stablecoins and support local financial innovation. He emphasized that stablecoins and tokenized assets will become important components of the European financial system. The President of the Eurogroup, Paschal Donohoe, believes that although the digital euro (CBDC) still has potential, euro stablecoins issued by the private sector are equally necessary. The official of the European Central Bank, Piero Cipollone, stressed that the digital euro should not be launched before 2029. Following the adoption of the GENIUS Act in the United States, dollar stablecoins have experienced rapid growth, prompting the European Union to adjust its position and begin actively promoting the euro stablecoin to address the dominance of the dollar in the global digital financial space.
