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European banks to launch euro stablecoin in bid to counter US dominance
(www.reuters.com)
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this post was submitted on 27 Sep 2025
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The market can stay irrational with various crypto currencies longer than you can stay solvent, so you fight irrationality with your own brand of irrationality.
This is even dumber when you consider we're ~2 years away from the launch of the Digital Euro. As easy and fast to transfer as a cryptocoin with none of the drawbacks. No Blockchain nonsense, backed by banks, transactions can be cancelled and refunded just like any digital transaction, and standardized to all EU banks.
This just sounds like a regular bank transfer to another European bank...input recipient in your self-service online banking and press "transfer"...beep boop done.
What does this "digital" euro do that the existing euro (which is also perfectly working in digital space) solve?
Surveilence
There will be the exact same level of surveillance, it's still just run by banks so there's no difference there.
For real, isn’t this allowing them to have much more control over what you have in the bank? Preventing bank runs as they call it(aka blocking withdrawals)
The digital euro will be centralized on the European Central Bank, so the transactions do not depend on some local banks. It's in direct competition with the banks themselves. But yeah, not that big a difference for the end user imho
Late response, but anyways: the big advantage over regular bank transfers is you can use it like a virtual card without Visa or Mastercard. In essence, the biggest draw is pushing US companies out of the EU financial system.