Digital Euro Is Key Tool Against Stablecoin Risks, ECB Official Says

USDC-0.02%
According to Isabel Schnabel, ECB executive board member, on June 1, stablecoins' rapid growth poses risks to financial stability and monetary policy transmission, with the global stablecoin market nearing $300 billion, of which Tether (USDT) and USD Coin (USDC) account for approximately 90%. Schnabel warned that dollar-denominated stablecoins are reinforcing the dollar's dominance globally, while the digital euro is essential to safeguard central bank money anchoring and reduce Europe's dependence on non-European payment providers.
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