PANews reported on September 25th that, according to Bloomberg, European Central Bank Governing Council member Francois Villeroy de Galhau stated in an interview with Continental Weekly that European banks risk falling behind the United States in the rapid development of stablecoins, potentially undermining the continent's sovereignty. He noted that Europe leads in regulation and public digital currency development, but lags behind in the private sector. He also noted that the stablecoin market could grow from approximately $250 billion to trillions of dollars in the coming years, forcing European banks to address the demand for private tokenized currencies. He emphasized that Europe could face risks from the existence of private dollar-denominated stablecoins issued by non-European parties, which are near-currencies. While discussions on this topic are still in their infancy, they are crucial for Europe's future sovereignty.

Earlier news said that nine European banks plan to jointly launch a MiCA-compliant euro stablecoin.