European digital currency forms a dual-track competition, with the digital euro and private euro stablecoins advancing in parallel

Odaily News: The European digital currency market is taking shape with a parallel development landscape between a central bank digital euro and private euro stablecoins. Revolut has previously launched phased testing of EURR in Denmark, Poland, and Portugal. This euro stablecoin runs on Ethereum and is issued by Bridge Building, a Stripe subsidiary. The ECB has emphasized that the digital euro will feature a highly privacy-centric design, with offline payment information known only to the transacting parties, and online transactions cannot be directly linked to individuals by the Eurosystem. Europe is advancing its digital payment ecosystem through both public digital currency and private stablecoins, aiming to reduce reliance on dollar-pegged stablecoins and non-European payment infrastructure.