The European Union is urged to develop euro-denominated stablecoins to counter dominance of US dollar-denominated tokens. The need for financial innovation is acknowledged by Eurogroup president Paschal Donohoe, who also sees potential for a digital euro. ECB board member Piero Cipollone predicts the digital euro won’t launch before 2029. Stablecoins are gaining geostrategic importance. US Federal Reserve governor Christopher Waller supports dollar-denominated stablecoins to protect the dollar’s reserve currency status.

Read more at Cointelegraph: Euro Officials Push for Euro Stablecoins