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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[–] popcornpizza@lemmy.blahaj.zone 3 points 1 day ago* (last edited 1 day ago)

For countries where the currency is unstable, stable currency is a way to protect one's savings.

Where I'm from, historically you'd save in USD. But in the last few years, the market has imposed dumb obstacles, like the paper notes being completely unblemished (something that isn't even a thing in the US, as far as I'm aware). That's where stablecoins have been useful for the locals.

Edit: This is an explanation, not an endorsement of crypto.