According to recent reports, French Finance Minister Roland Lescure emphasized the need for more stablecoins pegged to the euro, urging European banks to explore tokenized deposits. This statement may mark a shift in the French government's and its central bank's approach to digital currencies. Lescure expressed support for Qivalis, a consortium of 12 European banks planning to launch a euro-pegged stablecoin in the second half of 2026, aiming to counter US dominance in the digital payments sector.
He stated, 'That's what we need, and that's what we want,' and encouraged banks to further investigate tokenized deposits. Lescure also noted that the current volume of euro-pegged stablecoins is 'not satisfactory' compared to those pegged to the US dollar.
This stance differs from that of former Finance Minister Bruno Le Maire, who previously advocated for strict regulations against privately issued fiat-pegged cryptocurrencies, citing concerns over national sovereignty. More recently, Bank of France Governor Francois Villeroy de Galhau warned that stablecoins could threaten monetary sovereignty, framing it as a political risk. The latest developments suggest a potential evolution in the French government's policy regarding digital currencies.