BTC $63,953.90 +1.34%
ETH $1,843.10 +0.32%
BNB $568.07 +0.62%
XRP $1.08 +0.03%
SOL $74.81 +0.07%
TRX $0.3231 +0.39%
DOGE $0.0721 +0.43%
ADA $0.1656 +2.68%
BCH $218.11 -2.01%
LINK $8.25 +0.63%
HYPE $59.01 -2.45%
AAVE $87.87 -3.27%
SUI $0.7346 -0.08%
XLM $0.1833 -0.27%
ZEC $538.23 +0.74%
BTC $63,953.90 +1.34%
ETH $1,843.10 +0.32%
BNB $568.07 +0.62%
XRP $1.08 +0.03%
SOL $74.81 +0.07%
TRX $0.3231 +0.39%
DOGE $0.0721 +0.43%
ADA $0.1656 +2.68%
BCH $218.11 -2.01%
LINK $8.25 +0.63%
HYPE $59.01 -2.45%
AAVE $87.87 -3.27%
SUI $0.7346 -0.08%
XLM $0.1833 -0.27%
ZEC $538.23 +0.74%

coins

All
Article
Flash

European Central Bank: The proliferation of stablecoins may erode the deposit base of banks, and the digital euro is being accelerated

According to Cointelegraph, Piero Cipollone, a member of the Executive Board of the European Central Bank (ECB), stated that the large-scale adoption of stablecoins could weaken the retail deposit base of commercial banks and alter the competitive landscape of the traditional banking system. Cipollone pointed out during a speech at the Italian Banking Association in Rome on Friday that digital payments are reshaping the banking industry while increasing Europe’s reliance on non-European payment infrastructures.Banks are currently facing declining payment fee revenues and loss of transaction data due to the development of mobile payment service providers. As payment tools like stablecoins and other digital assets become more widespread, commercial banks may face increased pressure from deposit outflows. Cipollone emphasized that the digital euro will help maintain the status of public money and ensure that banks continue to participate in the payment ecosystem while meeting the evolving financial needs of customers."The digital euro can both maintain the role of public funds and ensure that banks retain an important role in the payment system," Cipollone stated. This Tuesday, the European Central Bank selected 36 payment service providers to participate in a 12-month pilot project for the digital euro, including banks, fintech companies, and payment firms.The pilot program is set to launch in the second half of 2027, aiming to test the feasibility of retail central bank digital currency (CBDC) operating in the eurozone. The European Central Bank has previously stated that if relevant legislation and testing progress smoothly, the digital euro could be officially issued as early as 2029.

Gate Ventures: Institutions continue to increase investment in on-chain finance, accelerating the construction of stablecoins and blockchain infrastructure

According to Gate Ventures' latest weekly report, the global market continued to be influenced by high interest rate expectations and geopolitical factors last week, with the cryptocurrency market overall maintaining volatility. BTC rose 0.2% over the week, ETH increased by 1.2%, and market sentiment saw a slight recovery. Meanwhile, BTC spot ETFs ended eight consecutive weeks of net outflows, recording a net inflow of approximately $197 million, and ETH spot ETFs also resumed net inflows, with institutional allocation demand showing marginal improvement.On the industry front, traditional financial institutions are continuing to accelerate the construction of on-chain infrastructure. Swift officially launched a blockchain-based shared ledger and partnered with 17 global banks to initiate a tokenized deposit pilot; fintech platform Toss is collaborating with Optimism to advance the infrastructure development for the Korean won stablecoin; Robinhood Chain, which launched only two weeks ago, has surpassed a total locked value (TVL) of $132 million.In terms of investment and financing, a total of 8 financing deals were disclosed last week, amounting to $381 million, with the infrastructure (Infra) sector dominating. Prime Intellect completed a $130 million financing round to accelerate the construction of enterprise-level AI infrastructure; Gauntlet received a $125 million strategic investment from Japan's SBI Holdings to further expand its institutional-level DeFi treasury business. Gate Ventures believes that stablecoins, on-chain finance, and institutional-level infrastructure are continuing to become important development directions for the industry, with institutional capital further increasing its investment in digital asset infrastructure.
app_icon
ChainCatcher Building the Web3 world with innovations.