Dollar stablecoins would reintroduce credit risk – Cipollone
ECB board member makes renewed case for digital euro, announces collateral management system
A digital euro would prevent fragmentation in the financial settlement market and lessen Europe’s dependence on solutions from abroad, Piero Cipollone has argued.
The European Central Bank board member today (May 15) used a speech in Paris to express his preference for central bank digital currencies over alternatives such as stablecoins.
“If the use of US dollar stablecoins becomes more widespread, the banks could lose fees, data and deposits,” he warned.
Introducing a European CBDC was an
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