EU Accelerates Digital Euro Development on Public Blockchains

The European Union is rapidly accelerating its plans for a digital euro on public blockchains like Ethereum and Solana in response to the US’ new regulatory approach to stablecoins. This move follows the United States’ introduction of the GENIUS Act, which regulates the massive $288 billion stablecoin market. The EU is responding to the growing dominance of the US dollar in cryptocurrencies by prioritizing public blockchain deployment due to concerns over privacy and accessibility. The urgency to speed up the digital euro’s development stems from fears of USD dominance in the crypto world.