Digital Euro Would Provide Alternative to Cryptos, ECB President Lagarde Says
A digital euro for retail payments would "ensure that sovereign money remains at the core of European payment systems," according to Lagarde.
ECB President Christine Lagarde says the impetus for a central bank digital currency could come from the need to facilitate cross-border finance.
The enthusiasm jolt from bitcoin's ascent toward $14K ran into realism, and options traders see low probabilities of a new price record this year.
Stablecoins could "threaten financial security" if widely adopted, the ECB head said in a magazine interview.
An executive member at the European Central Bank says a digital euro could protect the eurozone's monetary sovereignty from outside influence.
The EU central bank said the term stablecoin is potentially "confusing" and "misleading" to consumers.
European Central Bank President Christine Lagarde said a digital euro can place the region at the cutting edge of innovation but it may have fallen behind in the global competition for creating digital payment ecosystems.
After another failure above the $10,000 mark, some bitcoin traders are now looking ahead to this week's European Central Bank meeting, where authorities could commit to an extra €500 billion in money injections – er, asset purchases.