ECB’s Nagel Touts Euro-Denominated Stablecoins for Payments

Euro-denominated stablecoins can be a valuable tool for cheap international transfers, supplementing the European Central Bank’s push for a digital common currency, Governing Council member Joachim Nagel said.

Discussing transatlantic frictions, the Bundesbank president said Europe must become more independent on payment systems and highlighted the ECB’s work to create a digital version of the euro.