On Monday 9 March, Europe’s finance ministers took stock of the development of digital finance in the European Union at an enlarged Eurogroup meeting. In addition to the digital euro project being promoted by the European Central Bank (ECB), ministers examined the risks and opportunities associated with stablecoins and tokenised deposits denominated in euros.
“Europe is not as far ahead as it should be. 95% of stablecoinsworldwide are backed by the dollar, while only 1% are backed by...