Deep Tide TechFlow News, June 1st, according to The Block, European Central Bank Executive Board Member Isabel Schnabel stated that stablecoins expand or exacerbate risks to financial stability, monetary policy, and the international monetary order. Central banks should respond to these challenges by strengthening regulation and promoting central bank digital currencies (CBDCs), such as the digital euro.



She pointed out that dollar-denominated stablecoins could further solidify the US dollar's dominance through network effects. Currently, the global stablecoin market cap is close to $300 billion, with USDT and USDC accounting for about 90% of the total market. Schnabel also said that the digital euro helps ensure public access to public money and reduces Europe's reliance on non-European payment service providers.
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