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

Comments

• themurphy@lemmy.ml ⁨3⁩ ⁨weeks⁩ 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 ⁨3⁩ ⁨weeks⁩ 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 ⁨3⁩ ⁨weeks⁩ ago

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

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• cupcakezealot@piefed.blahaj.zone ⁨3⁩ ⁨weeks⁩ ago

  can they launch it into the sun?

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• Evil_Shrubbery@thelemmy.club ⁨3⁩ ⁨weeks⁩ ago

  Image

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• PattyMcB@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Why? Is so dumb.

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  • WanderingThoughts@europe.pub ⁨3⁩ ⁨weeks⁩ 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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    • Barbarian@sh.itjust.works ⁨3⁩ ⁨weeks⁩ 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 ⁨3⁩ ⁨weeks⁩ 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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  • cupcakezealot@piefed.blahaj.zone ⁨3⁩ ⁨weeks⁩ ago

    money laundering

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    • UnderpantsWeevil@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

      Hey, don’t forget legalized forgery.

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  • qaz@lemmy.world ⁨3⁩ ⁨weeks⁩ 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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  • popcornpizza@lemmy.blahaj.zone ⁨2⁩ ⁨weeks⁩ ago

    For countries where the currency is unstable, stable currency is a way to protect one’s savings.

    Where I’m from, historically you’d save in USD. But in the last few years, the market has imposed dumb obstacles, like the paper notes being completely unblemished (something that isn’t even a thing in the US, as far as I’m aware). That’s where stablecoins have been useful for the locals.

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  • treadful@lemmy.zip ⁨2⁩ ⁨weeks⁩ 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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