The European Central Bank would like to launch its own coin in 2026

Towards a digital euro? This is a scenario that seems increasingly plausible. The European Central Bank (ECB) has even mentioned a possible issue of a euro stablecoin version by 2026. It was a member of the ECB’s management board who publicly revealed this information in a speech in front of students from the National College of Ireland.

Test phase then put into circulation by the European Central Bank

According to this high dignitary of the European Central Bank, the tests for this digital euro would start from 2023. And, according to him, this phase should last about 3 years. We can therefore consider putting them into circulation in a reasonable way from 2026. According to the speech of this leader, which we have been able to read, cryptocurrencies should not be used as private currencies because, in this way, they do not could not be regulated. He therefore pleads for public cryptocurrencies, such as theEuro Digital that he projects.

His speech openly referred to the UST, a stablecoin that was supposed to replicate the behavior of the dollar (and therefore constitute a store of value. Its fall combined with the LUNA dive has given pause to all observers who had previously doubted the financial strength of cryptocurrencies, and more specifically of stablecoins.

Towards a nationalization of cryptocurrencies?

the speech by Fabio Panetta opens a new path for global cryptocurrencies. After a first phase where all the public authorities condemned cryptocurrencies, the latter seem to be looking for a way at all costs to use the power of these digital currencies. As we have seen, some states have chosen to legalize Bitcoin as a national currency. These are often poor countries, which have a fairly weak national currency.

Read also “An absolute disaster”, this serious warning of cryptocurrency crashes after the free fall of Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, Luna and Avalanche

The biggest ones, like the countries of Europe, seem to be seriously studying the possibility of creating a stable european coin. Case to follow.

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