ECB President Lagarde Says Stablecoins Fail to Support Euro Ambitions

Europe must build its own modernized settlement solutions anchored by central bank money, because stablecoins alone have structural weaknesses, European Central Bank President Christine Lagarde said Friday (May 8). In a speech delivered at the Banco de España LatAm Economic Forum in Spain, Lagarde said that euro-denominated stablecoins might provide short-term gains in financing conditions and international reach but that those benefits would be outweighed by concerns around financial stability