European Central Bank's Nagel: Euro stablecoins facilitate cheap cross-border payments

According to Jinshi reports, ECB Governing Council member Nagel stated that euro-denominated stablecoins could facilitate cheap international transfers and complement the European Central Bank's efforts to promote the digital euro. He pointed out that Europe must become more independent in its payment systems 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, indicating that the ECB's attitude towards this area is becoming more open.