France's Finance Minister Advocates for Euro Stablecoins Amid Policy Shift
France's finance minister calls for more euro stablecoins in sign of government policy shift
Coindesk
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French Finance Minister Roland Lescure has called for increased issuance of euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. This marks a significant policy shift from previous skepticism towards private stablecoins, aiming to enhance Europe's digital payment landscape and counter U.S. dominance.
- 01Roland Lescure supports the introduction of euro-pegged stablecoins.
- 02The Qivalis consortium plans to launch a euro stablecoin by late 2026.
- 03This shift contrasts with earlier French and EU skepticism towards private stablecoins.
- 04Lescure emphasizes the need for tokenized deposits in EU banks.
- 05The move aims to enhance Europe's position in digital payments against U.S. dominance.
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French Finance Minister Roland Lescure has signaled a significant policy shift by advocating for the issuance of more euro-denominated stablecoins and encouraging banks within the European Union (EU) to explore tokenized deposits. This shift comes as part of a broader strategy to counter the dominance of U.S. digital payment systems. Lescure's support for the Qivalis consortium, which includes 12 European banks such as BBVA, ING, UniCredit, and BNP Paribas, aims to launch a euro-pegged stablecoin in the second half of 2026. Previously, the French government and the European Central Bank expressed skepticism towards private stablecoins, citing concerns over monetary sovereignty and the potential privatization of money. Lescure noted that the current volume of euro-pegged stablecoins is
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This shift could lead to increased competition in the digital payment sector, benefiting consumers and businesses in Europe by providing more options for transactions.
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