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41m ago

EU Weighs Public Blockchains for a Digital Euro, Eyes Ethereum and Solana

Officials cite competitive pressure from new U.S. stablecoin rules alongside dollar‑pegged tokens’ dominance.

EU looks at public blockchains like Ethereum and Solana for digital euro rollout
U.s. stablecoin law jolts eu into rethinking digital euro strategy: ft
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EU

Overview

  • European officials are evaluating issuing the digital euro on public networks such as Ethereum or Solana, according to reporting sourced to the Financial Times.
  • The European Central Bank confirmed it is studying both centralized and decentralized technologies, including blockchain-based approaches, with no final design selected.
  • Backers of a public-chain model say broader interoperability could enhance cross-border use and global circulation of a euro-backed token.
  • Regulators remain wary of privacy and transparency risks because transactions on open blockchains are visible by default.
  • Momentum follows the U.S. GENIUS Act’s passage and warnings from ECB board member Piero Cipollone that dollar-pegged stablecoins could shift euro deposits and entrench the dollar, with China also weighing yuan-backed stablecoins.