The EU claims to launch digital euros in Ethereum or Solana: responses come

The European Central Bank (ECB) responds to the claim that digital euros can be implemented on public blockchains such as Ethereum and Solana.

The ECB has announced that a variety of technologies are being evaluated, but no final decision has been made on this issue yet.

Last month, following the adoption of the Stubcoin Act in the US, European Union officials decided to accelerate their digital euro plans. The new regulations add a $288 billion regulatory framework to the Stablecoin market, raising concerns that dollar-based tokens will become increasingly dominant in the global financial system in Europe.

European authorities, which previously considered a private digital euro blockchain for privacy reasons, are now considering a public blockchain. A source familiar with the issue said, “Everyone was surprised at how quickly the US passed the law. Now they say, ‘We need to move faster.'”

The long-established ECB’s digital euro project has gained new momentum thanks to rapid US legal action. Officials are concerned that US regulations will further increase the use of dollar-controlled stubcoins. This could further strengthen the dollar’s role in euro deposits transition to the US and cross-border payments.

Piero Sipolone, an ECB executive committee member, warned in April that “Europe cannot be overly dependent on foreign payment solutions,” saying dollar-based stubcoins pose a serious threat to Europe’s financial stability and strategic autonomy.

Prior to US law, the digital euro was not expected to exist on public blockchains. Public blockchains could drive the circulation of the digital euro, but transparent ledger structures raise privacy concerns. “The use of public blockchain is something EU officials are considering more seriously,” one source said.

In its latest statement, the ECB said a variety of options, including centralized and distributed solutions and distributed ledger technologies, have been evaluated in the digital euro development process, with no final decisions yet.

*This is not investment advice.