European banks to launch euro stablecoin in bid to counter US dominance

Comments

• themurphy@lemmy.ml ⁨4⁩ ⁨months⁩ 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.

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  • FurryMemesAccount@lemmy.blahaj.zone ⁨4⁩ ⁨months⁩ 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.

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    • ideonek@piefed.social ⁨4⁩ ⁨months⁩ ago

      Well, I against the idea, but now you got me thininiking.

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• cupcakezealot@piefed.blahaj.zone ⁨4⁩ ⁨months⁩ ago

  can they launch it into the sun?

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  • Alphonsus@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Funny you 😄

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• Evil_Shrubbery@thelemmy.club ⁨4⁩ ⁨months⁩ ago

  Image

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• PattyMcB@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Why? Is so dumb.

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  • WanderingThoughts@europe.pub ⁨4⁩ ⁨months⁩ ago

    The market can stay irrational with various crypto currencies longer than you can stay solvent, so you fight irrationality with your own brand of irrationality.

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    • Alphonsus@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      Exactly, You said my mind. If the game isn’t rational, pretending it is just gets you wrecked. You either adapt to the madness or get priced out by it.

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    • Barbarian@sh.itjust.works ⁨4⁩ ⁨months⁩ ago

      This is even dumber when you consider we’re ~2 years away from the launch of the Digital Euro. As easy and fast to transfer as a cryptocoin with none of the drawbacks. No Blockchain nonsense, backed by banks, transactions can be cancelled and refunded just like any digital transaction, and standardized to all EU banks.

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• vermaterc@lemmy.ml ⁨4⁩ ⁨months⁩ ago

  What is the use case of stable coins? Fast international money transfer? Or are there other I’m not aware of

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  • Alphonsus@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    That’s basically the core use case: fast, borderless transfers without volatility. Beyond that, they’re mostly used as on/off ramps inside crypto, a parking place during market swings, and for dollar denominated settlement where traditional banking is slow or unavailable.👌

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  • cupcakezealot@piefed.blahaj.zone ⁨4⁩ ⁨months⁩ ago

    money laundering

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    • UnderpantsWeevil@lemmy.world ⁨4⁩ ⁨months⁩ ago

      Hey, don’t forget legalized forgery.

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  • qaz@lemmy.world ⁨4⁩ ⁨months⁩ ago

    “Fast” international money transfer without value fluctuations. AFAIK, it’s used to send money back overseas without fees and for online casinos.

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    • Alphonsus@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      Agreed. A euro-denominated stablecoin makes sense for fast cross-border payments without FX risk, especially if the goal is reducing dependence on USD rails. It fits neatly with the EU’s push for payment sovereignty and an independent financial stack.👌

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  • treadful@lemmy.zip ⁨4⁩ ⁨months⁩ ago

    Money transfers, online payments for whatever, place to park your assets in volatile times in the market, integration into other on-chain investment systems, etc…

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    • Alphonsus@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      Fact. 👌

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