ECB: Cash is ‘here to stay’ even as digital euro advances

The ECB reaffirms that cash will remain central in Europe’s financial system, even as digital euro advancements progress. Piero Cipollone stressed that a digital euro will complement, not replace, cash, which is crucial during crises.

With the increasing demand for stablecoins, the ECB calls for regulatory frameworks in Europe. Jürgen Schaaf highlighted the need for global coordination to combat the dominance of US dollar stablecoins while proposing euro-pegged stablecoins as an alternative.