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European officials are weighing whether to deploy the forthcoming digital euro on a public blockchain like 
Ethereum or Solana, marking a sharp departure from earlier expectations of a closed system, the Financial Times reports.
What’s the Scoop?
- Policy Rethink: EU insiders told FT that the GENIUS Act, which established a federal stablecoin framework, has pushed Brussels to speed up its digital euro timeline and explore public chain deployments.
- Public vs Private: A blockchain-based euro could circulate globally and compete directly with dollar-backed stablecoins, but may raise privacy concerns since transactions are visible onchain.
- Strategic Concerns: Officials fear the U.S. law will accelerate the dominance of dollar-pegged stablecoins, putting pressure on the euro’s role in cross-border payments.
- ECB Position: The central bank confirmed it is evaluating both centralized and decentralized technologies, without committing to a final design.
Bankless Take:
It is time for the legacy financial system to evolve. Stablecoins are a clear adoption nexus for blockchain technologies, and although worries about central bank digital currencies persist, the launch of an ECB digital euro on public blockchains would be undeniably historic.
EU speeds up plans for digital euro after US passes stablecoin law https://t.co/RCJycIzhzb
— Financial Times (@FT) August 22, 2025
