What to know:
- Denis Beau, deputy governor of France’s central bank, is urging a broad public-private push to develop euro-based tokenized money to counter the dominance of dollar-pegged stablecoins.
- His stance contrasts with that of European Central Bank President Christine Lagarde, who is wary of privately issued stablecoins and favors a central bank digital euro targeted for around 2029.
- Beau’s position aligns with Qivalis, a consortium of major European banks planning a private digital euro, amid fears that the lack of liquid on-chain euro options will accelerate “digital dollarization” and weaken Europe’s monetary sovereignty.
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