According to recent reports, French Finance Minister Roland Lescure expressed the need for a greater number of euro-issued stablecoins, and encouraged banks in EU countries to explore the potential of tokenized deposits. This shift in stance was evident in his support for Qivalis, a coalition of 12 European banks planning to launch a euro-pegged stablecoin in the latter half of 2026, in an effort to counter the dominance of the US in the digital payments sector. Lescure emphasized the importance of this development, stating, "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 volume of euro-pegged stablecoins as "not satisfactory" in comparison to those pegged to the US dollar. This newfound support for stablecoins marks a departure from the stricter regulatory approach previously advocated by former Finance Minister Bruno Le Maire, who had expressed concerns over the potential threat posed by privately-issued fiat-pegged cryptocurrencies to the sovereignty of nations.
More recently, the Governor of the Bank of France, Francois Villeroy de Galhau, had also warned of the potential risks associated with stablecoins and tokenized private money, framing them as a threat to monetary sovereignty.