Deputy Governor of the Bank of France publicly "dissents" with Lagarde, advocating for public-private collaboration to develop the digital euro

Deep Tide TechFlow News, May 12—According to CoinDesk, Denis Beau, France’s Deputy Central Bank Governor, publicly called on Europe’s public and private sectors to jointly promote the development of euro tokenized currency in order to address the dominance of US dollar stablecoins. The move sharply diverges from the stance of European Central Bank President Christine Lagarde—Lagarde is cautious about private stablecoins, believing that USDT, USDC, and others present financial stability risks, and favors a central bank-led digital euro plan expected to be implemented in 2029.

Beau proposed Europe’s “threefold goals”: adapting central bank currency services, promoting the issuance of pan-European tokenized private currencies by regulated institutions, and strengthening the MiCA regulatory framework. His position closely aligns with the Qivalis consortium—made up of 12 major European banks including ING, BBVA, and France’s BNP Paribas—which plans to launch a private digital euro within this year. Beau also disclosed that the euro system will roll out its first tokenized wholesale central bank currency service before the end of the year.