TechFlow News, May 12: According to a CoinDesk report, Denis Beau, Deputy Governor of the Bank of France, publicly called on Europe’s public and private sectors to jointly advance the development of tokenized euro currency to counter the dominance of U.S. dollar–pegged stablecoins. This stance stands in clear contrast to that of European Central Bank (ECB) President Christine Lagarde, who maintains a cautious position toward private stablecoins—citing financial stability risks posed by stablecoins such as USDT and USDC—and favors a central bank–led digital euro initiative expected to launch in 2029.
Beau outlined a “triple objective” for Europe’s development: (1) aligning with central bank monetary services; (2) enabling regulated institutions to issue pan-euro tokenized private currencies; and (3) strengthening the Markets in Crypto-Assets (MiCA) regulatory framework. His position closely aligns with that of the Qivalis consortium—a group comprising 12 major European banks, including ING, BBVA, and BNP Paribas—which plans to launch a private digital euro this year. Beau also revealed that the Eurosystem will roll out its first tokenized wholesale central bank money service before the end of this year.
