Comment on European banks to launch euro stablecoin in bid to counter US dominance
themurphy@lemmy.ml 1 day ago
It’s not that dumb. There’s a market for this, if you want it or not.
And if you’re going to use crypto, it’s better they use a currency that’s not tied to the currency of an unstable country.
Also, the EU is looking to make a digital Euro anyway, which will not be a crypto coin as you know it, but a way to take power away from VISA and Mastercard, which will save European countries for billions each year.
FurryMemesAccount@lemmy.blahaj.zone 1 day ago
The digital euro is where it’s at! I can’t wait to give billions of dollars worth of middle fingers to American credit card companies.
ideonek@piefed.social 1 day ago
Well, I against the idea, but now you got me thininiking.
themurphy@lemmy.ml 1 day ago
The purpose is to boost European companies. Right now they pay between 1-3% of every single transaction.
Next, banks will also get hit. If a digital Euro exists, bank transactions will go down, meaning less transaction fees for both consumers and companies.
Then there’s convinience. People will be free to transfer money across the continent, and also to friends and family without any costs (some countries have that, some dont).
VISA and MasterCard is just a very unneccesarry middle man in 2025.
Who takes the bill then? Well, the EU does, because they work for the people, and the money gained is much larger than money spent. Net positive matematics.
FurryMemesAccount@lemmy.blahaj.zone 20 hours ago
Another reason to move to the digital euro is to circumvent the censorship on steam and various adult websites that credit card companies are imposing on us.