{"id":96947,"date":"2026-05-08T17:34:38","date_gmt":"2026-05-08T14:34:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=96947"},"modified":"2026-05-08T17:35:13","modified_gmt":"2026-05-08T14:35:13","slug":"ecb-favors-digital-euro-over-stablecoins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ecb-favors-digital-euro-over-stablecoins\/","title":{"rendered":"ECB Favors Digital Euro Over Stablecoins"},"content":{"rendered":"<p>Christine Lagarde, President of the <span data-descr=\"European Central Bank\" class=\"old_tooltip\">ECB<\/span>, <a href=\"https:\/\/www.ecb.europa.eu\/press\/key\/date\/2026\/html\/ecb.sp260508~dd909fbed1.en.html\">questioned<\/a> the necessity of issuing European stablecoins to protect monetary sovereignty. Speaking at an economic forum in Spain, she stated that the risks of such assets outweigh their potential benefits.<\/p>\n<p>Lagarde identified two main threats.<\/p>\n<ol class=\"wp-block-list\">\n<li><strong>Financial instability.<\/strong> Stablecoins are private liabilities. She cited the example of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a> in 2023, when the asset <a href=\"https:\/\/forklog.com\/en\/news\/usdc-supply-stabilises-after-silicon-valley-bank-collapse\">lost<\/a> its peg to the dollar due to issues at Silicon Valley Bank.\u00a0<\/li>\n<li><strong>Impact on the banking system.<\/strong> A mass shift of depositors from bank deposits to stablecoins would weaken banks&#8217; ability to lend to the economy and complicate inflation control.<\/li>\n<\/ol>\n<p>According to the ECB President, stablecoins are popular merely because they are more convenient than traditional interbank transfers. However, Europe does not need to replicate the American model.<\/p>\n<p>Instead of private stablecoins, the ECB is focusing on state infrastructure:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Pontes project:<\/strong> will enable blockchain settlements directly in central bank money;<\/li>\n<li><strong>Appia roadmap:<\/strong> aims to create a unified European ecosystem for <a href=\"https:\/\/forklog.com\/en\/news\/what-are-rwas-real-world-assets\">tokenized assets<\/a> by 2028.<\/li>\n<\/ul>\n<p>Lagarde emphasized that integrating capital markets and developing a digital euro will be more beneficial than trying to catch up with the US in issuing private tokens. She concluded that having a state &#8220;anchor&#8221; in the form of a central bank digital currency will render the use of foreign stablecoins in Europe pointless.<\/p>\n<p>Earlier in April, the Bank for International Settlements <a href=\"https:\/\/forklog.com\/en\/news\/bis-chief-likens-stablecoins-to-securities\">warned<\/a> that many dollar stablecoins function more as investment instruments than as a means of payment.\u00a0<\/p>\n<p>Later, a consortium of 12 European banks <a href=\"https:\/\/forklog.com\/en\/news\/european-banks-announce-launch-of-euro-stablecoin\">announced<\/a> the launch of a euro stablecoin.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Christine Lagarde, President of the ECB, questioned the necessity of issuing European stablecoins to protect monetary sovereignty.<\/p>\n","protected":false},"author":1,"featured_media":96948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Christine Lagarde questions the need for European stablecoins to protect monetary sovereignty.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[205,1410,1612,807],"class_list":["post-96947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-christine-lagarde","tag-ecb","tag-euro","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"Christine Lagarde questions the need for European stablecoins to protect monetary sovereignty.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=96947"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96947\/revisions"}],"predecessor-version":[{"id":96949,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/96947\/revisions\/96949"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/96948"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=96947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=96947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=96947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}