The European Union speeds up digital euro plans with Ethereum and Solana star-news.press/wp

The European Union intensifies its plans to obtain the digital euro, and is now exploring the use of public banking groups such as Ethereum and Solana to expand its scope.

The European Union is accelerating the efforts made to launch the digital euro amid increasing concerns about the loss of Earth with the high global competition. According to August 22 a reportThe batch is in response to the increase in the adoption of Stablecoins and the new organizational clarity in the United States after the approval of the genius law.

Officials fear that the American list can enhance the dominance of the dollar in the Stablecoin market of $ 288 billion, which is already consisting of largely wet symbols in US dollars. This, in turn, can weaken the global influence of the euro and push the European Union to accelerate digital currency plans.

The European Central Bank explores the launch of the digital euro for several years, which will be an electronic form of useless cash for financial transactions throughout the euro area. The batch is driven by increasing global demand for digital payment systems and low cash use.

The CEO of the Central Bank, Piero Cibuloni, said earlier in May that while the criticism will remain available, he “cannot do the mission” alone in the digital age. He added that the digital currency supported by central banks will ensure that public funds are accessible, complement the money, and ensure that the euro remains relevant in a digital world.

Eyes of the European Union Ethereum and Solana to put the digital euro

As part of the efforts made to accelerate the launch, officials are now weighing the option to use the general Blockchains. Previous plans have focused on the launch of the digital euro on the private Blockchain, where the payments and the governor will remain under the direct supervision of the European Central Bank.

Officials are now thinking about Ethereum and Solana as possible options, driven by expectations that their use can enable broader trading and support global adoption.

However, not every person on board the initiative, according to what was reported, the European banks retracted the introduction of the digital euro. Previous reports indicated that banks are looking at the digital currency as a potential threat to their current business models, expressing fears that they may reduce interest in traditional financial services.

Currently, the expected timeline of the digital euro remains uncertain. The central bank had previously proposed October 2025 as a possible launch date, but recent developments indicate that the project may be fast. The launch is also subject to legislative approval and the implementation of all necessary regulations.