European Central Bank (ECB) President Christine Lagarde argued against the need for privately-issued euro-pegged stablecoins, even in the face of a market which is 98% dominated by dollar-pegged tokens.

Despite the rapid global adoption of USD stablecoins, Largarde argued Europe should focus on building tokenized settlement infrastructure anchored in central bank money rather than simply replicating the U.S. stablecoin model in a speech Bank of Spain’s LatAm Economic Forum in Madrid o