EU Digital Euro SHOCK: Ethereum & Solana?! Crypto Markets React!

By: María Fernández Published On: 22/08/2025

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The European Union is considering a surprising shift in its approach to the digital euro. Instead of relying on private, closed blockchain systems, officials are now exploring the possibility of running the digital euro on public blockchains like Ethereum (ETH-USD) or Solana (SOL-USD). This move could open the door to networks accessible to anyone, potentially reshaping the future of digital currency in Europe.

Europe's Response to US Stablecoin Dominance

Currently, U.S. dollar-backed stablecoins dominate the market, holding over 98% of the share. European policymakers are concerned that this heavy reliance on American products could undermine Europe's financial independence. Piero Cipollone, a member of the ECB board, suggested that a trustworthy and widely adopted digital euro could reduce the dependence on stablecoins.

Ethereum and Solana: A Strategic Signal?

Choosing Ethereum or Solana could signal that Europe intends to compete directly with U.S. private sector innovation, rather than playing catch-up. This decision would be a significant departure from the approach taken by many central banks, including China, which have favored private blockchains with restricted access.

The Trade-Offs of Public Blockchains

Public blockchains offer clear advantages. A digital euro built on Ethereum or Solana could seamlessly integrate with existing crypto infrastructure, including DeFi platforms, wallets, and global payment rails. This would simplify adoption and reduce the friction typically associated with central bank digital currencies.

Potential Benefits:

Faster adoption rate
Seamless integration with existing crypto infrastructure
Increased competition with U.S. stablecoins

However, risks also exist. Public blockchains could grant governments a more significant role in network governance. The implications of this shift are still being debated, but it's clear that the EU's exploration of Ethereum and Solana for the digital euro marks a significant development in the global digital currency landscape.