ECB Calls for Digital Euro to Limit US Dollar Stablecoin Use

The European Central Bank (ECB) is intensifying its warnings about stablecoin adoption, with one of its top officials proposing a digital euro to curb the influence of US dollar-backed stablecoins across Europe. ECB executive board member Piero Cipollone has issued another article highlighting concerns over the growing popularity of US dollar stablecoins. He argues that launching a central bank digital currency (CBDC) could help preserve the eurozone’s monetary sovereignty.