European Central Bank official: The best solution for the European Central Bank to address stablecoins is to launch the digital euro
By: rootdata|2026/06/02 04:45:01
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According to Bloomberg, European Central Bank Executive Board member Isabel Schnabel stated that stablecoins pose multiple risks to financial stability and monetary policy, and the best response from the European Central Bank is to ensure that public money continues to serve as the anchor of the system.
She pointed out that while private monetary innovations like stablecoins can bring "significant benefits," they may also increase the risk of runs on the financial system, weaken the transmission effects of interest rate decisions, and reinforce the international dominance of the dollar. Schnabel emphasized that the European Central Bank's strategy relies on the digital euro as a retail central bank digital currency and tokenized central bank money as wholesale CBDC.
She noted that many advantages of stablecoins stem from their underlying technology rather than the characteristics of the instruments themselves. The day before Schnabel's remarks, Federal Reserve Governor Waller stated that the global spread of stablecoins could expand the influence of U.S. central bank policies and questioned CBDCs, calling them "a stupid thing."
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