Nine European Banks Launch Euro-Backed Stablecoin to Challenge US Dollar Dominance

Nine of Europe’s leading banks have come together to issue a euro-backed stablecoin, marking a significant step toward creating a trusted European digital payment system. However, the project is designed to challenge the dominance of the U. S. -based stablecoins and offer Europe a payment system of its own, with the region’s strict regulations. Nine Banks Unite … source: https://coinpedia.org/news/nine-european-banks-launch-euro-backed-stablecoin-to-challenge-us-dollar-dominance/