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German Central Bank Chief Backs Stablecoins, CBDCs For Europe’s Payment Independence
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Remarkable considerations were heard by the President of the Deutsche Bundesbank last week at the meeting of the Euro50 Group in London. Joachim Nagel commented in detail in his speech on the increasing importance of stablecoins. Against the background of the Genius Act, which regulates stablecoins in the USA, Nagel noted that the US government is officially promoting the market for cryptovalues, especially the market for stablecoins, which are …
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Cryptocurrency News | Cryptocurrency Prices | Market CapGerman Central Bank Chief Backs Stablecoins, CBDCs For Europe’s Payment Independence
The President of the German central bank has supported the use of euro-pegged stablecoins and Central Bank Digital Currencies (CBDCs) to protect the bloc’s payments independence. Related Reading: Former White House Crypto Adviser Confident CLARITY Act Will Pass As Deadline Nears Bundesbank Chief Pushes For Stablecoins, CBDCs On Monday, Joachim Nagel, President of the Deutsche […]
Germany's Bundesbank Chief Backs Euro Stablecoins as Europe Pursues Payment Sovereignty
TLDR: Bundesbank President Nagel endorsed euro stablecoins as low-cost tools for cross-border payments across Europe. The digital euro will become the first pan-European retail payment solution built on solely European infrastructure. A wholesale CBDC is in development to enable programmable central bank money payments for financial institutions. Nagel warned Europe can no longer rely on transatlantic cooperation and rules-based order as it onc…
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