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EU Banks Urged To Embrace Digital Euro Amid Trump’s Stablecoin Push, Says ECB Board Member
EU Banks Urged To Embrace Digital Euro Amid Trump’s Stablecoin Push, Says ECB Board Member
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European Central Bank (ECB) board member Piero Cipollone has emphasized the importance of Eurozone banks adopting a digital euro in response to US President Donald Trump’s initiative to promote stablecoins. Trump’s executive order, issued last Thursday, focuses on fostering the development of dollar-backed stablecoins, which Cipollone believes could further divert customers from traditional banks. He highlighted the global implications of Trump’s strategy, noting that the push for stablecoins could strengthen the case for the ECB to introduce its own digital currency. Cipollone made these remarks during a conference in Frankfurt, underscoring the need for European banks to adapt to the evolving financial landscape.
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