ECB's Nagel: Euro stablecoins facilitate cheap cross-border payments

According to ChainCatcher, citing Jinshi, European Central Bank (ECB) Governing Council member Jean-Claude Nagel stated that euro-denominated stablecoins could facilitate inexpensive international transfers, complementing the ECB's efforts to promote a digital euro. He pointed out that Europe must become more independent in its payment system and emphasized the importance of creating a digital euro. Nagel mentioned that euro-denominated stablecoins could be used by individuals and businesses for low-cost cross-border payments, demonstrating the ECB's increasingly open attitude towards this area.