Member of the ECB Board Piero Cipollone expressed concern that the growth of dollar-pegged stablecoins could weaken European banks. In his opinion, this encourages the accelerated launch of the digital euro, which should prevent further exclusion of banks from financial operations. In response to Trump's initiative to support dollar-pegged stablecoins, the ECB is considering the creation of its own digital currency, but eurozone banks are opposed to this step due to the risk of losing deposits and clients.
1/25/2025 12:22:35 PM (GMT+1)
ECB Board member Piero Cipollone warned of the risks to European banks due to the growth of dollar-pegged stablecoins and the need for the accelerated launch of the digital euro 💶
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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