this post was submitted on 27 Sep 2025
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European banks to launch euro stablecoin in bid to counter US dominance (www.reuters.com)
submitted 3 days ago by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world
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[–] Meron35@lemmy.world 4 points 3 days ago

The existing Euro does not have a proper system for day to day transactions. Transfers are currently handled by SEPA, which are only suitable for things like bills. This means that a lot of people especially in less developed EU nations end up using an international bank card, i.e. MasterCard/Visa for day to day transactions.

Details are somewhat vague, but the ECB's website seems to have many good assurances. This even includes strong privacy features, such as offline capabilities and cash-like privacy.

FAQs on a digital euro - https://www.ecb.europa.eu/euro/digital_euro/faqs/html/ecb.faq_digital_euro.en.html#q1