Eurozone to Discuss Stablecoins in Bid to Strengthen Euro's Role

Eurozone finance ministers are set to meet on Feb. 16 to explore the integration of euro-denominated stablecoins and central bank digital currencies (CBDCs) to enhance the euro's global standing, Reuters has learned.

The European Commission is preparing a set of proposals aimed at strengthening the euro's role in the international monetary system. These proposals are expected to include the issuance of euro-denominated stablecoins, tokenized deposits, and CBDCs.

Currently, the euro accounts for approximately 20% of global currency reserves, compared to about 60% for the U.S. dollar, the report reads.

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