Lagarde Rejects Euro Stablecoins for Tokenized Deposits
European Central Bank President Christine Lagarde expressed skepticism over euro-denominated stablecoins, arguing they pose risks to financial stability and monetary policy transmission. She instead advocated for tokenized commercial bank deposits as a safer blockchain-based alternative.
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European Central Bank President Christine Lagarde rejected the expansion of euro-pegged stablecoins on Friday, citing risks to financial stability and monetary control. The stance challenges efforts by Société Générale and other lenders to contest United States dollar dominance in crypto markets. The ECB prioritizes internal digital projects over private-sector stablecoin initiatives.
