According to recent reports, French Finance Minister Roland Lescure emphasized the need for more euro-pegged stablecoins in Europe and encouraged banks to explore tokenized deposits. This statement suggests a potential shift in the French government's and its central bank's approach to digital currencies. Lescure expressed support for a group of 12 European banks, including BBVA, ING, UniCredit, and BNP Paribas, that plan to launch a euro-pegged stablecoin in the second half of 2026.
The goal is to counter the dominance of US-based digital payments. Lescure stated, "That is what we need and that is what we want. I also strongly encourage banks to further explore the launch of tokenized deposits." He noted that the current volume of euro-pegged stablecoins is unsatisfactory compared to dollar-pegged ones. This stance differs from the previous strict regulatory approach, led by former Finance Minister Bruno Le Maire, who opposed privately-issued fiat-pegged cryptocurrencies.
More recently, the Bank of France Governor Francois Villeroy de Galhau warned about the potential risks of stablecoins and tokenized private money, citing the threat to monetary sovereignty.