French Minister Pushes Banks to Launch Euro Stablecoin in Policy Reversal

France’s Finance Minister Roland Lescure has urged EU banks to accelerate euro-backed stablecoins and tokenized deposits, endorsing the Qivalis consortium of 12 major banks (BBVA, ING, UniCredit, BNP Paribas) targeting a H2 2026 launch. This follows his earlier call for more euro stablecoins, marking a shift from 2023 opposition by prior minister Bruno Le Maire and EU skepticism. The support aims to counter dollar stablecoin dominance, potentially boosting euro demand in digital payments and presenting modest upside for Euro vs US Dollar if tokenized flows grow.