Currently, USDT▼$0.9989 and USDC▲$0.9998, both pegged to the US dollar, remain the most popular stablecoins.
French Minister of Economy and Finance Roland Lescure stated that Europe needs more euro-pegged stablecoins to reduce the dominance of the US dollar in digital payments.
“That is what we need and that is what we want,” Lescure said, commenting on an initiative by a group of European banks to launch a euro stablecoin in the second half of 2026.
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Minister’s Position
Lescure also called on EU banks to actively explore the possibility of issuing tokenized deposits. He noted that the current volume of euro stablecoins is “unsatisfactory” compared to dollar-pegged stablecoins like USDT and USDC.
A group of 12 European banks, including ING, UniCredit, and BNP Paribas, plans to launch its own euro stablecoin in the second half of 2026. The project aims to reduce Europe’s dependence on US payment solutions.
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Shift in Approach
Lescure’s statement signals a possible softening of the French authorities’ stance toward private stablecoins. Previously, former Finance Minister Bruno Le Maire held a hardline position, stating that such assets “have no place on European soil” and threaten sovereignty.
Currently, European regulators continue work on the digital euro, which is intended to become the central element of tokenization in the region. Lescure supported the European Central Bank’s plans, calling them the “right balance.”
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