Euro zone finance ministers will discuss on Thursday how they can support the development of euro-denominated stablecoins so as not to leave the rapidly growing market only to the United States, a senior euro zone official said. Stablecoins are digital tokens that have stable value against a regular currency and are backed by reserves like the currency itself or other assets. The stablecoin market is now around $300 billion, but is forecast to grow tenfold over the next decade, the official said. Almost all stablecoins now are denominated in U.S. dollars and U.S. legislation called the Genius Act from July aims to ... (full story)