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European banks to launch euro stablecoin in bid to counter US dominance
(www.reuters.com)
Why? Is so dumb.
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
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.
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.
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
It's not that dumb. There's a market for this, if you want it or not.
And if you're going to use crypto, it's better they use a currency that's not tied to the currency of an unstable country.
Also, the EU is looking to make a digital Euro anyway, which will not be a crypto coin as you know it, but a way to take power away from VISA and Mastercard, which will save European countries for billions each year.
The digital euro is where it's at! I can't wait to give billions of dollars worth of middle fingers to American credit card companies.
Well, I was against the idea, but now you got me thininiking.
The purpose is to boost European companies. Right now they pay between 1-3% of every single transaction.
Next, banks will also get hit. If a digital Euro exists, bank transactions will go down, meaning less transaction fees for both consumers and companies.
Then there's convinience. People will be free to transfer money across the continent, and also to friends and family without any costs (some countries have that, some dont).
VISA and MasterCard is just a very unneccesarry middle man in 2025.
Who takes the bill then? Well, the EU does, because they work for the people, and the money gained is much larger than money spent. Net positive matematics.
can they launch it into the sun?
What is the use case of stable coins? Fast international money transfer? Or are there other I'm not aware of
money laundering
Hey, don't forget legalized forgery.
this post was submitted on 27 Sep 2025
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