ECB Warns of Bank Deposit Outflows to Stablecoins

ECB Executive Board member Piero Cipollone warned that rising stablecoin adoption could drain retail bank deposits, citing existing losses of fees and payment data to mobile services. The ECB is positioning its digital euro (CBDC) as a counterweight to preserve public money's role and keep banks in the payments ecosystem, with a 12-month pilot launching in H2 2027 across 36 institutions.

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