ECB Warns Stablecoins May Drain Bank Deposits—Here's What That Means
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ECB board member Piero Cipollone warns that stablecoins pose a threat to bank deposits, citing a three-layer risk to banks from digital payments. He emphasizes the need for a digital euro as the only structural solution.
ECB board member Piero Cipollone laid out the three-layer threat banks face from digital payments, and pitched the digital euro as the only structural answer.