58
European banks to launch euro stablecoin in bid to counter US dominance
(www.reuters.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 27 Sep 2025
58 points (98.3% liked)
Technology
81283 readers
518 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related news or articles.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS
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
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)
There will be the exact same level of surveillance, it's still just run by banks so there's no difference there.
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.