EU Accelerates Digital Euro Plans on Public Blockchains

The European Union is accelerating its efforts to launch a digital euro, considering public blockchains like Ethereum and Solana to enhance accessibility and integration with existing crypto ecosystems. This move is driven by competition with the United States, which has recently enacted comprehensive stablecoin regulations under President Trump, advancing dollar-pegged digital assets. EU officials are concerned that the dominance of US dollar stablecoins could threaten the euro's global financial position and Europe's strategic autonomy. The European Central Bank is weighing both private and public blockchain models, balancing privacy and control with innovation and cross-border usability. ECB leaders, including Christine Lagarde and Piero Cipollone, have emphasized the urgency to establish a regulated digital euro to protect European financial stability and curb reliance on foreign payment systems. This initiative aligns with global trends toward digital currencies aimed at modernizing financial infrastructure and maintaining competitive currency status in the digital economy.