French Finance Minister Backs Euro-Pegged Stablecoins in Response to US
Cointelegraph
French Finance Minister Roland Lescure is supporting a European bank-led initiative to launch a euro-pegged stablecoin by 2026 to challenge US dollar dominance.Summary
French Finance Minister Roland Lescure has publicly backed a project by European banks, including ING and UniCredit, to launch a euro-pegged stablecoin by late 2026. Designed to be compliant with the EU’s Markets in Crypto Assets (MiCA) regulation, the initiative aims to provide a competitive European alternative to US dollar-denominated stablecoins like USDT and USDC. Lescure expressed that the current low volume of euro-pegged tokens is unsatisfactory and also encouraged banks to explore tokenized deposits to strengthen the continent's digital finance infrastructure.
(Source：Cointelegraph)