I 've never heard of EUR stablecoins. What are they?
Banks are slow in adopting new technologies because they don't like taking those risks. They work with their decades old systems and would rather continue to do so as long as they can. They are also heavily regulated and bringing in something like a bank-native stablecoin would require a lot of work and compliance on their part.
There's a development in this area:
ING and 8 other European banks are going to create their own stable coin, working in a new Dutch company under supervision of the Dutch National Bank (DNB). I like the analyses in
the Dutch Cryptocast, and indeed, this involved many people within the bank because of compliance. They also said that Tether is the most profitable company on earth
per employee, which is no doubt the reason many others are trying to create their own stable coins.
Banks must fear being replaced by tech companies, even though the payment infrastructure in euro countries is quite good. Don't get me wrong, I don't like banks and I don't like the foundation of the euro coin, but when
touch my debit card to a machine in a shop and instantly remove it, the payment is processed before I can store the card again. So I don't really see a reason to switch to (euro) stable coins for payments.
