French Finance Minister Calls for Expanded Use of Euro-Pegged Stablecoins

Gate News message, April 17 — French Economy and Finance Minister Roland Lescure called for expanded use of euro-pegged stablecoins and urged European banks to play a more active role in their development, speaking at a cryptocurrency conference in Paris.

Lescure expressed concern about Europe’s lagging position in the digital asset space, noting that US dollar-backed stablecoins dominate globally while euro-denominated stablecoins remain limited in scale. He warned that this gap could weaken the competitiveness of the European financial system during its digital transformation.

The minister directly called on financial institutions to develop “deposit tokens” — products that convert bank deposits into digital assets. According to Lescure, such tokens could accelerate payment systems, reduce costs, and bridge the gap between traditional finance and blockchain technology. His remarks come as the European Union continues to clarify its regulatory framework for crypto assets and stablecoins, and experts suggest that widespread adoption of euro-backed stablecoins could strengthen Europe’s position in global financial competition.