Stablecoins Adoption: French Finance Minister Pushes For More Euro-Backed Tokens
France’s Finance Minister Roland Lescure has called for the development of more Euro-pegged stablecoins. This comes amid rising tensions between the European Union and the US, as the EU seeks to weaken US dominance over its payment systems. Related Reading: Crypto Shockwave: Circle Sued As $280 Million Drift Hack Unravels Euro-Stablecoins: Europe’s Push For Financial […]
Related News
While the stablecoin economy is worth roughly $153 billion today, euro-backed stablecoin issuance has increased 1,683% from $31.9 million worth of euro-based tokens on January 3, 2020, to today’s $569 million. Since November 2021, the number of euro stablecoins swelled by 85.34%, but from January 2022 to today, euro stablecoin numbers dropped 14.17% during the last seven months. Euro-Pegged Stablecoins Cross Half a Billion in Value Since the Start of the Year Today, most of the stablecoin economy’s value is based on tokens backed by the U.S. dollar, but a small number of....
The U.S. company Circle is launching a regulated stablecoin that is pegged to the euro, but what does this mean for the eurozone? The market capitalization of Tether (USDT), a United States dollar-pegged stablecoin, is currently over $65 billion. USD Coin (USDC), another stablecoin backed by the U.S. dollar, clocks in near $55 billion. Some reports estimate that the total market cap of dollar-backed stablecoins is over $160 billion.Despite this success of dollar-based stablecoins, there has not been a euro stablecoin that is even remotely comparable in size. By the end of June, the....
A blockchain tech conference to be held this October will feature representatives from the French government and legislature. The Parliamentary Blockchain Forum will be held on 4th October at the Maison de la chimie, a conference site located near the French National Assembly, the lower house of the country’s legislature. French Minister for Digital Affairs Axelle Lemaire will give closing remarks, an appearance confirmed by the French Finance Ministry when reached. French MPs Laure de la Raudière and Jean Launay are said to be giving remarks during the early morning session, according to....
Stablecoins backed by fiat currencies will be considered as a form of payment as regulators in the United Kingdom introduce new rules governing its use to the country’s parliament on Wednesday. The long-awaited Financial Services and Markets Bill will be supported by UK Finance Minister Nadhim Zahawi on Wednesday. One of the aims of the […]
Sorare announced a new licensing agreement with the French Football Federation (FFF) this morning for the issuance of non-fungible tokens (NFTs). French National Team To Release NFTs With the Euro 2020 tournament currently underway, blockchain-based fantasy soccer game Sorare has announced a licensing arrangement with a national sports body to create nonfungible tokens of its […]