Europeans Push for Regulated Dollar Stablecoins Amid Euro Strengthening
European stablecoin issuers are pushing for regulated US dollar tokens, arguing that Europe's efforts to strengthen the euro do not eliminate businesses' need for dollar liquidity. AllUnity, a German stablecoin issuer, has launched its US dollar-pegged stablecoin USDAU, expanding its lineup beyond European currencies.
According to CEO Alexander Höptner, 'In global trade and FX markets, the US dollar is the glue.' He added that 'For European corporates to make cross-border payments globally, offering only a euro stablecoin isn’t enough.'
The demand for dollar stablecoins in Europe reflects practical business needs, rather than something policymakers can steer towards the euro. Stable Mint CEO James Bennett said 'Dollar stablecoins are where the demand is, and Europe can’t wish that away.'