The stablecoin market is booming, and the United States just pulled ahead. Last month, the US House of Representatives passed the GENIUS Act, signed into law soon after by President Trump, providing long-awaited clarity for stablecoin issuers.

Now, Europe is racing to catch up. According to the Financial Times, the European Union is accelerating plans for a digital euro, potentially launching it on public blockchains like Ethereum or Solana.

EU officials fear that dollar-pegged stablecoins could undermine the euro’s dominance, especially as adoption grows across the continent. European Central Bank board member Piero Cipollone has already warned that relying too heavily on USD-based coins risks Europe’s financial stability and strategic autonomy.

Meanwhile, the US has taken a strong pro-crypto stance. President Trump and the SEC’s new leadership aim to establish America as the global crypto capital, while the EU scrambles to safeguard its monetary sovereignty.

#New high in the total market value of stable coins#