Vocal opposition to the European Central Bank’s (ECB) digital euro project reportedly swelled after the institution’s payment system crashed last month. TARGET2 (T2), the ECB’s real-time gross settlement system, went down in late February, which prevented payments from being processed for several hours. Now, some members of the European Parliament, a legislative body of the […]
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According to a report, Eurozone economic ministers are not too keen on Trump’s friendliness toward cryptocurrencies and in their opinion the European Union needs to “prevent any initiative” from having “negative consequences on stability and sovereignty.” EU Warns Trump’s Crypto Stance Risks Stability Donald Trump clearly knows how to shake things up, and his administration’s […]
Thousands of ultra-nationalist Revival party supporters in Bulgaria clashed with police while attempting to storm an EU mission building in Sofia, protesting the country’s planned euro adoption in 2026. The demonstrators, fearing economic instability and loss of sovereignty, threw projectiles and set fires, resulting in police injuries and arrests. The Bulgarian government condemned the violence, […]
According to data released by SWIFT, the use of the euro as a settlement currency for international payments has fallen significantly. Its utilization share has decreased by 6.83% compared to 2014, with only 22.29% of global payments employing it. Euro Tanks, Dollar Thrives in Swift Share Charts The future seems bleak for the euro, as […]
BBVA, one of Spain’s largest financial institutions, has announced plans to launch its stablecoin product by 2025. The organization is currently in the sandbox stages and will be developed in partnership with credit giant Visa as part of one of the first projects using its services to launch stablecoins. BBVA Plans to Launch Stablecoin in […]
Financial giant UBS expects the U.S. dollar to continue to depreciate, advising investors to reevaluate their portfolios. The bank predicts a medium-term decline due to shrinking interest rate advantages and a growing fiscal deficit. With the dollar down 5% since June, UBS recommends strategies like currency hedging and diversifying into other currencies and assets like […]
Binance, the world’s leading cryptocurrency exchange, has expanded its offerings to include Eurite (EURI), a newly minted euro-backed stablecoin. The exchange has confirmed that EURI trading pairs will be available in both euro and US dollars at 10:00 UTC on August 28th. Binance has announced that Eurite (EURI), a newly regulated euro-backed stablecoin, will be […]
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EURC, a Euro-pegged stablecoin by Circle, the issuer of USDC, has reached a market cap of over €50 Million ($55.37 million). According to Patrick Hansen, Circle’s Senior Director, EU Strategy & Policy, the stablecoin has experienced significant growth, registering a 36% increase in its issuance due to its recent launch on base, a Coinbase incubated […]
Despite Western restrictions imposed after Russia invaded Ukraine, billions of dollars and euros in banknotes have flowed into the country. This suggests that Russia has found ways to circumvent these restrictions. Despite official efforts to reduce reliance on foreign currency, Russian citizens still prefer dollars and euros. Russia Successfully Skirts Western Sanctions Dollar and euro […]
Since the inception of the digital euro, many critics have called the proposed digital currency a surveillance tool.
The digital euro will be one of the most private forms of electronic payment, according do a data protection official from the European Union.
On Oct. 2, 2020, the European Central Bank (ECB) released a report laying the groundwork for its central bank digital currency (CBDC), the digital euro.
The digital euro has been in its investigation phase since October 2021, during which ECB officials and bankers hypothesized about its possible design and purpose.
