This is a particular challenge in Europe where the retail payment world remains fragmented along national lines. The Eurosystem is working on it. We’d better act fast here, because we don’t want this new world of payments to be dominated solely by US and Chinese actors.
Europe has a particular interest in developing its own approach and standards so it can be safe and efficient at home and attractive as an international reference. How do stablecoins, private and public, fit into this discussion?