Bitcoin
Bitcoin (BTC)
$94,713.00 -0.92276
Bitcoin price
Ethereum
Ethereum (ETH)
$2,641.08 -3.47849
Ethereum price
BNB
BNB (BNB)
$635.70 -5.27247
BNB price
Solana
Solana (SOL)
$163.45 -8.48522
Solana price
XRP
XRP (XRP)
$2.50 -5.04125
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000015 -4.07433
Shiba Inu price
Pepe
Pepe (PEPE)
$0.000009 -9.28909
Pepe price
Bonk
Bonk (BONK)
$0.000015 -10.91484
Bonk price
dogwifhat
dogwifhat (WIF)
$0.583239 -8.94223
dogwifhat price
Popcat
Popcat (POPCAT)
$0.233099 -15.7101
Popcat price
Bitcoin
Bitcoin (BTC)
$94,713.00 -0.92276
Bitcoin price
Ethereum
Ethereum (ETH)
$2,641.08 -3.47849
Ethereum price
BNB
BNB (BNB)
$635.70 -5.27247
BNB price
Solana
Solana (SOL)
$163.45 -8.48522
Solana price
XRP
XRP (XRP)
$2.50 -5.04125
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000015 -4.07433
Shiba Inu price
Pepe
Pepe (PEPE)
$0.000009 -9.28909
Pepe price
Bonk
Bonk (BONK)
$0.000015 -10.91484
Bonk price
dogwifhat
dogwifhat (WIF)
$0.583239 -8.94223
dogwifhat price
Popcat
Popcat (POPCAT)
$0.233099 -15.7101
Popcat price
Bitcoin
Bitcoin (BTC)
$94,713.00 -0.92276
Bitcoin price
Ethereum
Ethereum (ETH)
$2,641.08 -3.47849
Ethereum price
BNB
BNB (BNB)
$635.70 -5.27247
BNB price
Solana
Solana (SOL)
$163.45 -8.48522
Solana price
XRP
XRP (XRP)
$2.50 -5.04125
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000015 -4.07433
Shiba Inu price
Pepe
Pepe (PEPE)
$0.000009 -9.28909
Pepe price
Bonk
Bonk (BONK)
$0.000015 -10.91484
Bonk price
dogwifhat
dogwifhat (WIF)
$0.583239 -8.94223
dogwifhat price
Popcat
Popcat (POPCAT)
$0.233099 -15.7101
Popcat price
Bitcoin
Bitcoin (BTC)
$94,713.00 -0.92276
Bitcoin price
Ethereum
Ethereum (ETH)
$2,641.08 -3.47849
Ethereum price
BNB
BNB (BNB)
$635.70 -5.27247
BNB price
Solana
Solana (SOL)
$163.45 -8.48522
Solana price
XRP
XRP (XRP)
$2.50 -5.04125
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.000015 -4.07433
Shiba Inu price
Pepe
Pepe (PEPE)
$0.000009 -9.28909
Pepe price
Bonk
Bonk (BONK)
$0.000015 -10.91484
Bonk price
dogwifhat
dogwifhat (WIF)
$0.583239 -8.94223
dogwifhat price
Popcat
Popcat (POPCAT)
$0.233099 -15.7101
Popcat price

European Central Bank eyes digital Euro to counter Trump’s stablecoin push

Jayson Derrick
Edited by
News
European Central Bank eyes digital Euro to counter Trump’s stablecoin push

In response to U.S. President Donald Trump’s recent executive order promoting dollar-backed stablecoins, the European Central Bank is emphasizing the need for a digital euro to maintain the competitiveness of eurozone banks.

ECB board member Piero Cipollone expressed concerns to Reuters that the U.S. initiative could attract customers away from European banks, underscoring the urgency for the ECB to develop its own digital currency.

President Trump’s executive order aims to “promote the development and growth of lawful and legitimate dollar-backed stablecoins worldwide,” positioning the United States as a leader in the cryptocurrency sector. 

This move is seen as a potential threat to European banks, as stablecoins — cryptocurrencies typically pegged to the U.S. dollar — could lure clients seeking alternatives to traditional banking services.

Stablecoins function similarly to money market funds by offering exposure to short-term interest rates in official currencies, predominantly the U.S. dollar. 

In contrast, a digital euro would serve as an online wallet guaranteed by the ECB but operated by entities such as banks. This system would enable individuals, including those without bank accounts, to make payments, with holdings likely capped at a few thousand euros and not accruing interest.

Digital Euro as a threat to banks

However, European banks have expressed concerns that a digital euro might lead customers to transfer funds into ECB-backed wallets, potentially reducing bank deposits. 

The ECB is currently exploring the practical implementation of a digital euro, with a final decision pending legislative approval from European lawmakers, according to Reuters. 

President Trump’s executive order also prohibits the Federal Reserve from issuing its own central bank digital currency, further distinguishing the U.S. approach from potential European strategies.

As the ECB deliberates on the introduction of a digital euro, the global landscape of digital currencies continues to evolve. Countries like Nigeria and China have already launched their own digital currencies or are conducting pilot programs, reflecting a broader trend toward the adoption of central bank digital currencies worldwide.