French Finance Minister Calls for Development of Euro Stablecoin, France's Policy Stance May Shift

Odaily News French Finance Minister Roland Lescure stated that Europe needs more euro-denominated stablecoins and encouraged EU banks to explore tokenized deposits. These remarks are seen as a potential shift in the stance of the French government and central bank.

Lescure publicly supported the Qivalis alliance, which includes 12 European banks such as BBVA, ING, UniCredit, and BNP Paribas. The alliance plans to launch a euro-pegged stablecoin in the second half of 2026 to counter the dominance of the US dollar in the digital payments sector.

He pointed out that the current scale of euro stablecoins is far below that of dollar stablecoins, which is "not satisfactory," and emphasized that promoting related development is "exactly what we need."

In contrast, former Finance Minister Bruno Le Maire had taken a strong stance against private issuance of stablecoins, viewing them as a threat to monetary sovereignty. Recently, Bank of France Governor Francois Villeroy de Galhau also warned that stablecoins and tokenized currencies could pose risks of "monetary privatization."

Analysis suggests that France's latest statement may indicate a more pragmatic approach in Europe towards stablecoin and digital currency policies, attempting to find a balance between regulation and innovation. (CoinDesk)