Europe Builds Dollar Stablecoins Even as ECB Warns of Risks
- —AllUnity launched USDAU, a stablecoin pegged to the US dollar
- —USDSM and USDCV each have a market size of about $13 million
- —USDT stands at $184 billion and USDC at $74 billion, dominating the market
- —Societe Generale and Stable Mint are also developing dollar stablecoins
Why it matters: The ECB worries about the dollar's growing digital reach, yet European firms rely on it for trade, leaving EU regulators to set rules for these stablecoins.
Source: Newsbit