EU considers Ethereum and Solana for digital euro
Last Updated on 22 August 2025 by CryptoTips.eu
The European Central Bank (ECB) is seriously considering a surprising move in the development of the digital euro. Instead of opting for a closed, internally managed blockchain, the ECB is now also looking at public networks like Ethereum and Solana. This step could significantly accelerate adoption and accessibility of the digital euro.
Until recently, it seemed likely that the ECB would stick to a closed system, mainly due to privacy concerns. But the rapid rise of US-based stablecoins, which dominate nearly the entire market, is pressuring the EU to move faster with a digital alternative that strengthens the euro on the global stage.
Public blockchains could empower the euro
Running the digital euro on a public blockchain would allow the currency to be used worldwide with immediate effect. This could greatly enhance its role in international payments. However, there is a downside: transactions on public blockchains are fully transparent. That remains a sensitive topic for many policymakers.
The ECB is therefore keeping its options open. It is studying both centralized technologies and blockchain solutions. No final decision has been made yet, but the fact that public networks like Ethereum and Solana are now serious contenders signals a shift in the ECB’s thinking.
Europe wants to catch up with the US
One major driver of this re-evaluation is increasing pressure from the United States. The recent approval of the GENIUS Act, which introduces strict regulations for the $288 billion stablecoin market, shows how seriously the US is approaching the issue.
According to ECB board member Piero Cipollone, the dominance of dollar-linked stablecoins is causing euro reserves to shift abroad and further entrenching the dollar in global payments. Cipollone argues for a reliable digital euro as a counterbalance to American initiatives.
While China has opted for a closed model with its digital yuan, Europe now appears more open to a transparent alternative. Whether the final solution involves Ethereum, Solana or another technology will depend on how the ECB balances control with innovation.
