EU considers Ethereum and Solana as the basis for the digital euro

Previously, it was assumed that a private ledger controlled by the European Central Bank would be used

EU is discussing the use of Ethereum or Solana for the digital euro

22.08.2025 - 11:30

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The EU is accelerating its plans to create a digital euro.

The possibility of creating it based on Ethereum or Solana instead of private networks is being considered.

The EU fears that without swift action, the US regulatory framework could accelerate global demand for dollar-backed tokens.

European officials have accelerated plans to create a digital euro. According to the Financial Times, the reason for this was Washington’s adoption of the large-scale GENIUS Act (Governance and Establishment of National Innovation for US Stablecoins), which many in Brussels see as a threat to the competitiveness of the EU’s single currency.

Officials are discussing whether the digital euro should operate on a public blockchain, such as Ethereum or Solana. Previously, it was assumed that a private ledger controlled by the European Central Bank would be used.

The US’s swift action to regulate cryptocurrencies is forcing the EU to accelerate its plans

The GENIUS Act, signed by US President Donald Trump in July, establishes the first comprehensive rules for the stablecoin market. Under this law, issuers of dollar-pegged tokens must hold reserves in the form of liquid assets, comply with licensing requirements, and adhere to strict reporting standards. In Europe, Washington’s swift action has caused concern among politicians who had previously been more cautious in promoting their project.

Debate over the choice between a public blockchain and a closed ledger for the digital euro

Proponents argue that using an open blockchain could promote wider circulation of the euro, while critics warn that public networks subject transactions to scrutiny and raise privacy concerns.

The EU fears that without swift action, the US regulatory framework could accelerate global demand for dollar-backed tokens. As a result, the euro’s role in cross-border payments could gradually weaken.

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