Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

A recent blog post from the European Central Bank (ECB) raised alarms about the implications of the US dollar’s dominance in the stablecoin market, especially in light of President Donald Trump’s recent signing of the GENIUS Act into law.

This trend could allegedly lead to increased borrowing costs for European nations, diminish the autonomy of the European Central Bank, and deepen geopolitical dependence on the United States. 

European Union Urged To Fast-Track Digital Euro

The ECB’s adviser, Jürgen Schaaf, claimed that the strategic advantages afforded to the US through its “stablecoin dominance” could allow it to finance its debt more cheaply while extending its global influence.

The post emphasizes the potential consequences for Europe, warning that reliance on dollar-based stablecoins for payments and savings could undermine the ECB’s control over monetary policy. 

According to Reuters, the market for euro-denominated stablecoins is currently minimal, with a market capitalization of less than 350 million euros, compared to similar cryptocurrencies from companies like Tether (USDT) and Circle (USDC). 

In light of this competitive landscape, the ECB’s adviser urged the European Union to accelerate the development of a digital euro and encourage the creation of more euro-based stablecoins.

Amid these tensions, the recently enacted GENIUS Act in the US has ignited fresh interest among traditional finance firms in dollar-pegged cryptocurrencies. 

Wall Street Giants Explore Opportunities In Stablecoins

Interactive Brokers Group, a brokerage firm with a market capitalization of around $110 billion, is reportedly considering launching its own stablecoin. 

The firm’s founder, Thomas Peterffy, indicated that while they are still evaluating how to implement these assets for customers, they recognize the transformative potential of blockchain technology in the broader financial landscape.

Interactive Brokers has already established partnerships with crypto platforms like Paxos and is an investor in crypto exchange Zero Hash, enabling it to offer trading in various cryptocurrencies. The firm is now focused on creating a system for instant, 24/7 stablecoin funding for brokerage accounts. 

However, Peterffy also expressed caution about the rapid adoption of cryptocurrencies, noting, “It’s basically hard to grasp its fundamental value.” He emphasized that while he is open to the idea of stablecoins, he remains skeptical about their intrinsic worth.

In a parallel development, Robinhood has launched its own stablecoin, the Global Dollar Network, in collaboration with other crypto platforms such as Kraken and Galaxy Digital. 

This stablecoin, issued by Paxos, is pegged to the US dollar and aims to facilitate transactions without the need for traditional banking systems. Similarly, asset manager and crypto exchange-traded fund (ETF) issuer WisdomTree recently unveiled its own stablecoin, USDW.

These developments are part of the progressive steps being taken in the US toward a more accommodative digital asset environment. Wall Street firms like JPMorgan, Citigroup, and Goldman Sachs are also exploring the potential of these assets for their operations. 

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

A decentralized platform, Lukso offers an alternative to creators depending on centralized platforms such as Google, Meta, and Spotify.

The company recently appointed Cell as new CEO and is committed to shifting the power dynamics of current centralized systems through the LUKSO Standard Proposal (LSP) smart contract system, which gives Creaters complete control over their identity and content.

The platform promotes the universal identity of creators and AI that are resistant to censorship, completely chained, easily exposed, and allows creator content to be accessible and interactive to everyone, including apps and protocols.

Big movements with luxo.
Former CEO of Coinbase Germany, @JanosellI just participated @universal_every As a COO that will help make Web3 mainstream.
With universal profiles, creator-owned content and AI-driven identity, Lukso is more than just a blockchain. pic.twitter.com/2l68ihvczc

– ninjafromqueens.base.eth (@ninjafromqueens) May 15, 2025

Shadow, which prohibits profiles and content that are prevalent in centralized systems, is part of a space where content is not permitted to share, as published thanks to the platform’s LSP smart contracts.

As a result, creators can experiment with content without fear of exhaustion.

Explore: 10+ crypto tokens that can hit 1000X in 2025

Lukso Universal Profile – Progress for AI Transparency and Web3 Adoption

Web3 platforms (transparency, ownership, user agents, etc.) have many advantages, but so far they have been rarely popular in the creator community due to usability factors such as unfamiliar tools, confused interfaces, and security concerns.

Cell said, “It’s not the tools or Dapps that carry Web3 on your back, but the lack of foundations, pure private key account systems, and a proper standardized smart contract-based account system.”

According to the sale, Lukso’s Universal Profile addresses these issues by integrating the identity of a smart, recoverable, user-friendly blockchain into the blockchain through LSP smart contracts.

Furthermore, as AI continues to evolve, universal profiles become increasingly important. With growing concerns about authors, attribution and accountability, AI agents can establish a verifiable on-chain presence through Lukso’s universal profile, ensuring transparency and trust.

Additionally, universal profiles are modular and programmable, allowing developers and creators to manage AI profiles through Lukso’s LSP6 Key Manager Standard, enabling secure, collaborative governance for AI agents.

Like human creators, AI agents can develop their own reputation, gain follow-up, and evolve socially, due to their universal profile.

Explore: 20+ next ciphers that will explode in 2025

A distributed system can match intensive convenience with appropriate criteria

“Distributed systems often face hurdles of scalability, speed and user experience,” explains the sales, relying on centralized systems.

However, by having the right standards and leveraging universal profiles, Web3 offers smart, recoverable, scalable accounts, providing a better user experience when compared to Web2.

A key advantage of Web3 is its complexity. Unlike the siloed approach of the Web 2 platform, Lukso’s ecosystem allows users to embed protocols directly into profiles.

Therefore, mini apps can serve multiple purposes. For example, an artist’s profile could be a ticket store or a project’s profile could be a launch pad. This level of modularity does not exist in Web2, so the possibilities are endless.

With the right standards, a decentralized Web3 platform can outweigh the intensive convenience by increasing flexibility, ownership and creative potential.

Explore:12+ Hottest Encryption Presale to Buy Now

The post, the former Coinbase German CEO joins Lukso, aims to break Big Tech’s grip against Creator Autonomy, which first appeared in 99bitcoins.