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ECB’s Nagel touts euro-denominated stablecoins for payments
Euro-denominated stablecoins can be a valuable tool for cheap international transfers, supplementing the European Central Bank’s push for a digital common currency, Governing Council member Joachim Nagel said. Discussing transatlantic frictions, the Bundesbank president said Europe must become more independent on payment systems and highlighted the ECB’s work to create a digital version of the euro. “I also see merit in euro-denominated stablecoins,” he told an event Monday at the American Chamber of Commerce in Germany. “They can be used for cross-border payments by individuals and firms at low cost.” ... (full story)
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