Stablecoins increase quickly. The majority of the $ 255 billion sector is currently concentrated in tokens supported in US dollars, which represent $ 241 billion in this total, according to Rwa.xyz data.
The former member of the board of directors of the European Central Bank and President of General Company, Lorenzo Bini Smaghi, said that the imbalance could run Europe in the next phase of global finance.
Writing in the Financial Times, Bini Smaghi noted that the European Union already has the markets in crypto-active (Mica) The law, which obliges issuers to support tokens with high -level and high -level sovereign bonds.
The block also manages a pilot diet to discuss distributed books. However, the euro is barely appearing on the Stablescoin market today because banks and decision-makers stand out from new technology, he wrote.
A general company, it is worth adding, launched its own stablecoin supported in Euro in 2023. Last month, it also launched a launch of an American dollar.
He says that hesitation risks European monetary sovereignty. If consumers and businesses adopt stable dollars for payments and daily savings, deposits could flow from Euro region banks to platforms linked to the United States.
This change would erode the grip of the ECB on silver flows and dull its ability to direct the prices or calm the markets, added Bini Smaghi. He argued that regulators should look, and not block progress.
By sponsoring tokens and standards for coordinating euros, the ECB could modernize cross -border payments and help unify the financial markets of Europe.
If Europe remains on the sidelines, “it will accept its marginalization in the future of global finance,” he wrote.
