ECB adviser doubts digital euro can match U.S. Dollar stablecoins

In his recent blog post, Jürgen Schaaf of the ECB argues that the European Central Bank should primarily utilize regulated euro-pegged stablecoins to address the rise of US dollar stablecoins. He stresses the importance of global regulatory alignment in this domain.

Schaaf describes the digital euro as an aspect of a broader strategy integrating private innovation and distributed ledger technology. He emphasizes that euro-pegged stablecoins could enhance both market legitimacy and the euro’s global standing.