ECB chief economist Philip Lane made an important statement. He spoke at an event at University College in Cork. Lane believes that Europe needs a digital euro (CBDC). In his opinion, this will help counter the influence of stablecoins pegged to the value of the US dollar (#usd ). Additionally, it will reduce dependence on American payment systems.$BNB
The specialist stated that electronic payments from 'Big Tech' raise concerns. He reminded that Apple Pay, Google Pay, and PayPal dominate in Europe. Lane noted the risks of economic pressure, as companies may use their influence. Philip believes that the digital euro will become a safe alternative for Europe.
"Stablecoins also pose a threat. About 99% of the market is pegged to the US dollar. This could strengthen the USD's position in the eurozone. Payment systems will start to depend on the American currency. The digital euro will prevent such a scenario," emphasized Lane.$TRB
The ECB is actively exploring the launch of its own #CBDC . Many central banks around the world are doing the same. Competition with US stablecoins is one of the reasons. Corporate payment services are also pushing for such solutions. Lane believes this is especially important for #ЕЦБ .
The eurozone includes 20 countries. The single currency is used in each of them. However, payment systems remain fragmented. Historical standards vary in each country. The digital euro is designed to eliminate these barriers.$YFI
Lane sees great prospects in this. The new instrument will consolidate retail payments and make them more efficient. Europe will become less dependent on external market participants. The project could change the region's financial system. Work on the digital euro is ongoing. The ECB is conducting research and tests. Lane emphasizes the importance of Europe's independence.#news
