Ethereum and Solana Could Power Europe’s Digital Euro
Sources familiar with ongoing discussions told the Financial Times that the European Central Bank (ECB) is now weighing whether to build the currency on open blockchain networks instead of developing a closed, permissioned system. A decision has yet to be finalized, but the consideration marks a notable shift in the ECB’s approach to its long-debated central bank digital currency (CBDC).
Why Public Blockchains Matter
Unlike private ledgers, which restrict access to select participants, public blockchains are fully transparent and accessible to anyone. Adopting a public framework would align the euro more closely with how widely used U.S. stablecoins operate, while distancing it from the closed model used by China’s digital yuan.
One person close to the talks noted that the private option would “look much more like the Chinese central bank’s approach,” whereas using Ethereum or Solana would resemble models pursued by U.S. firms such as Circle, whose dollar-pegged tokens dominate the stablecoin market.
READ MORE:
Pi Network Promises Millions – But Who’s Really Winning in 2025
Geopolitical and Market Context
European policymakers have grown increasingly vocal about reducing reliance on U.S. dollar stablecoins, particularly as the Trump administration promotes their adoption abroad. ECB board member Piero Cipollone argued earlier this year that a digital euro could help curb dollar-denominated stablecoin use, which currently accounts for nearly 98% of the global market.
By exploring public blockchain infrastructure, Europe appears to be signaling both a desire for transparency and a competitive response to the U.S. and China in the rapidly evolving digital currency landscape.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
The post Ethereum and Solana Could Power Europe’s Digital Euro appeared first on Coindoo.
You May Also Like
The whale "pension-usdt.eth" has reduced its ETH long positions by 10,000 coins, and its futures account has made a profit of $4.18 million in the past day.
Fed Chair Powell says FOMC is divided on additional rate cuts in 2025
Powell said the Federal Open Market Committee is weighing interest rates on a meeting-by-meeting basis, with no long-term consensus. US Federal Reserve Chair Jerome Powell said the 19 members of the Federal Open Market Committee (FOMC) remain divided on additional interest rate cuts in 2025.At Wednesday’s press conference after the Fed’s 25-basis-point rate cut, Powell said the central bank is trying to balance its dual mandate of maximum employment and price stability in an unusual environment where the labor market is weakening even as inflation remains elevated. Powell said:Powell said that the “median” FOMC projection from the Federal Reserve’s Summary of Economic Projections (SEP), the Fed’s quarterly outlook for the US economy that informs interest rate decisions, projected interest rates at 3.6% at the end of 2025, 3.4% by the end of 2026, and 3.1% at the end of 2027.Read more
