From Dismissal to Strategy: The ECB’s Blockchain Awakening 💡🔗

Historically, the ECB and other central banks have been sceptical of blockchain and cryptocurrencies, often dismissing them due to a perceived lack of intrinsic value, their association with illicit activity and the threat they pose to monetary control. For instance, in 2018, Yves Mersch of the ECB described the demand for Bitcoin as ‘like a gold rush — but there is no gold’ and supported the view that it is a Ponzi scheme.

Fast forward to 2025: the ECB’s latest blog post signals a strategic change of direction. Stablecoins are now recognised as posing both risks and opportunities. With US dollar-denominated stablecoins dominating the market with a value of over USD290 billion and euro-denominated ones lagging behind with a value of less than €600 million, however growing sharply, the ECB is taking action: ✅ Supporting euro stablecoins to reinforce the international role of the euro ✅ Accelerating the digital euro CBDC ✅ Leveraging blockchain for wholesale markets

Why the shift? Monetary sovereignty. The rise of stablecoins and global crypto adoption forced a reckoning. The ECB’s move from skepticism to strategy isn’t just about control—it’s about shaping the future of the euro in a digital world.

Lesson: Ignoring disruption doesn’t make it disappear. Adapt or risk irrelevance.

#DigitalEuro #CryptoRegulation #FinTech #FutureOfMoney