EU stablecoin issuers advocate for USD token inclusion

VERA Brief

AI-generated. Grounded in the article and its cited sources.

European stablecoin issuers are advocating for the inclusion of USD-denominated tokens in the region's regulatory framework. They argue that excluding these tokens could impede businesses involved in global trade and settlement by limiting access to dollar liquidity.

Key facts

• European stablecoin issuers want USD-backed tokens included in the region's regulatory framework.
• Issuers state there is existing demand for USD stablecoins.
• Businesses engaged in global trade and settlement require access to dollar liquidity for international payments.
• Excluding dollar stablecoins could create challenges for European firms in the global financial ecosystem.
• There is a perceived need for a wider range of stablecoin options to support cross-border financial activities.