According to recent reports, French Finance Minister Roland Lescure expressed his support for the development of more euro-pegged stablecoins in the European Union. This move is seen as a potential shift in the French government's policy towards digital currencies. Lescure encouraged European banks to explore the use of tokenized deposits, highlighting the need for greater innovation in the EU's digital payments sector. His comments came as a group of 12 European banks, including BBVA and BNP Paribas, announced plans to launch a euro-pegged stablecoin in the second half of 2026.
The minister emphasized that the current volume of euro-pegged stablecoins is 'not satisfactory' compared to those pegged to the US dollar. This move marks a departure from the previous strict regulatory stance against privately-issued fiat-pegged cryptocurrencies, which were seen as a threat to the sovereignty of nations. The French government's new stance may be seen as an attempt to counter the dominance of US-based digital payment systems and promote greater financial innovation within the EU.