US Dollar Leaves Euro Behind in On-Chain Ecosystem Development
CoinShares has published a report highlighting the widening gap between the on-chain ecosystems of the US dollar and euro. The company's head of research, Christopher Bendiksen, notes that technology and regulation in the US are increasingly moving in tandem, with a shift from integrating digital assets into the existing financial system to moving the entire system onto blockchain infrastructure.
This contrasts with Europe, where the focus is on applying blockchain while preserving the existing financial system. Bendiksen argues that this approach is widening the gap between the two regions' on-chain ecosystems.
The stablecoin market is a key area of difference, with dollar-based stablecoin supply exceeding $300 billion and euro-based stablecoin supply remaining below $1 billion.