European Central Bank (ECB) Sets Sights on Ethereum and Solana for Digital Euro Rollout

• The decision is likely driven in part by increasing concern over the growing dominance of US dollar–pegged stablecoins
• Public blockchains offer many benefits because they are easy to use and can be adopted quickly, but they also have major privacy issues
• ECB has not yet made a definitive technical choice, as it remains open to a hybrid approach and is exploring both centralized and decentralized technologies

The Financial Times reports that the European Central Bank (ECB) is accelerating its Digital Euro planning and actively considering public blockchains like Ethereum and Solana (instead of a private, ECB-controlled ledger) as possible platforms for issuing the central bank digital currency (CBDC).

This decision is likely driven in part by increasing concern over the growing dominance of US dollar–pegged stablecoins, especially following the United States’ passing of the GENIUS Act, which has heightened the urgency to protect the euro’s global role.

It’s worth noting that even though public blockchains offer many benefits because they are easy to use and can be adopted quickly, they also have a big problem with privacy because everything on them …

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