Don’t Write Off Euro Stablecoins Just Yet
The next major stablecoin expansion should be a credible, scalable, privately-issued euro stablecoin, not another USD token.Summary
Despite USD stablecoins dominating the market, the author argues that a significant, scalable, privately-issued euro stablecoin is the logical next step for the crypto ecosystem, given the Eurozone's $16 trillion economy and the euro's status as the world's second most-active currency in FX turnover. Stablecoins are becoming essential infrastructure, processing $28 trillion in 2024, surpassing Visa and Mastercard combined, and tokenized finance is growing rapidly. Since the euro is not disappearing and Europe is not dollarizing, a globally significant euro stablecoin is inevitable to settle a portion of the massive existing euro flows moving onto on-chain rails. The article also covers a sharp post-holiday crypto selloff, the importance of Ethereum leading any market recovery, and details on the upcoming Fusaka upgrade, which is expected to significantly boost Layer 2 throughput via PeerDAS and increase Layer 1 value accrual.
(Source：CoinDesk)