According to recent remarks by French Finance Minister Roland Lescure, the European Union needs to see a greater number of euro-pegged stablecoins, and EU banks should investigate the potential of tokenized deposits. This statement, as reported by Reuters, suggests a potential shift in the stance of the French government and its central bank towards digital currencies.
Lescure expressed his support for Qivalis, a consortium of 12 European banks, including prominent institutions such as BBVA, ING, UniCredit, and BNP Paribas, which plan to introduce a euro-pegged stablecoin in the latter half of 2026. The aim is to counterbalance the dominance of the US in the digital payments sector. Lescure emphasized, "This is what we need, and this is what we want." He also urged banks to further explore the launch of tokenized deposits.
The minister noted that the current volume of euro-pegged stablecoins is relatively low compared to those pegged to the US dollar, describing this situation 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 strong opposition to privately issued fiat-pegged cryptocurrencies, viewing them as a threat to national sovereignty. More recently, the Governor of the Bank of France, Francois Villeroy de Galhau, warned about the potential threats of stablecoins and tokenized private money, citing the risk of privatization of money and loss of monetary sovereignty.