According to recent reports, French Finance Minister Roland Lescure emphasized the need for more euro-based stablecoins in the European market. He also encouraged banks to explore the potential of tokenized deposits, signaling a shift in the government's approach to digital currency. Lescure expressed support for a group of European banks, including BBVA and BNP Paribas, that plan to launch a euro-pegged stablecoin in the second half of 2026, aiming to reduce US dominance in digital payments. The minister stated, 'This is what we need, and this is what we want.' He also urged banks to further investigate the launch of tokenized deposits, citing the current low volume of euro-pegged stablecoins as 'not satisfactory.' This stance marks a departure from the previous strict regulatory approach, led by former Finance Minister Bruno Le Maire, who had expressed concerns about the potential threat of privately-issued fiat-pegged cryptocurrencies to European sovereignty.
More recently, the Bank of France Governor warned about the risks of stablecoins and tokenized private money, highlighting the potential loss of monetary sovereignty.