While the President of the United States Donald Trump promises increased support for the stablecoins backed by the dollar, the European Central Bank sounded the alarm and requested more regulation. Behind this displayed concern also hides a strategy to impose its own digital euro project.
A monetary battle around stablecoins
Since returning to the White House, Donald Trump clearly has displayed his colors: the stablecoins backed by the dollar will have his blessing. A posture that could transform the world landscape Digital payments … and marginalize the euro a little more. On the Frankfurt side, we no longer hide the concern. And for good reason: the ECB (European Central Bank) sees in this offensive a direct threat for the financial sovereignty of the old continent.
This April 22, 2025, Politico reported that the ECB would like to see regulation on the redesigned stablecoins, because the current one would be “Too permissive towards the multi-emission model”. Apparently, this debate around Stablecoins is technical regulation. But for the ECB, it is above all of a monetary power issue.
🪙 The ECB would like to test the digital euro from October 2025
The institution fears a rise in the supply of dollars stablecoins, facilitated by the crypto-friendly policy of Donald Trump, which could accentuate dollarization digital payments in Europe.
This risk, the ECB binds it directly to a need: that of promoting a European alternativepublic and centralized, via the digital euro. “The euro must remain at the heart of the payment system”hammered Christine Lagarde for several months. So the ECB wishes launch your own digital euro as soon as possibleso as not to stay on the tile. And in this context, his criticism of Stablecoins also appear as an indirect plea for his own project … Chance of the calendar or not, the digital euro project is entering a major phase this year.
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A decisive vote for the digital euro in October 2025
According to some Echo sources, the ECB would dramatize the threat of stablecoins for gain political support For the digital euro. Indeed, in October 2025, the Eurogroup must vote to authorize or not the transition to the implementation phase. And the European bank seems more determined than ever to convince the member states to follow it. If some countries, such as France or Germany, actively support the project, others still question the real added value of the digital euro.
Christine Lagarde insisted last week on “The importance of quickly establishing the legislative framework in order to prepare the ground for the potential introduction of a digital euro”. For Pierro Cipollone, this project “Would reduce the risks of seeing stablecoins in foreign currencies to establish yourself as a common means of exchange in the euro zone »».
https://www.youtube.com/watch?v=PBROZSRMIIM
In watermark, the ECB also hopes to restore the image of a digital euro still misunderstood from the general public. Despite institutional concerns, Stablecoins play a marginal role in traditional finance for the moment.
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Source: L'Echo
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After training in journalism, I worked for a few years in general press before discovering the world of personal finance and the scholarship. Fallen into cryptos since 2020, I am particularly interested in the decryption of news that influence the Cryptos markets. My goal? Always teach my readers more by providing the most precise and the most just possible information.
Justine Ferrari
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