Recently, EU officials have urgently put the "Digital Euro" project on the agenda, which is seen as a direct response to new policies from the United States. An insider from the EU revealed to the media that if progress continues at the original pace, the euro's share in the international payments sector may be completely eroded by USD stablecoins.

This move has sparked intense discussions within the European Central Bank. Some technocrats have proposed deploying the euro stablecoin on public blockchains like Ethereum to increase circulation speed and avoid redundant development. However, those with a conservative stance have expressed concerns, believing that the transparency of public chains could compromise user privacy.

Currently, non-European companies hold 70% of the market share in eurozone payment processing. The EU is concerned that if no action is taken, the remaining 30% of the market share may also be lost. Therefore, whether the digital euro should use a public chain or a private chain has become an urgent issue that needs to be addressed.

However, experts also remind us that while acting quickly is important, being too hasty can lead to decision-making errors. While advancing the development of digital currencies, the EU needs to balance various factors such as efficiency, privacy, and security to ensure that the digital euro can play a positive role in the field of international payments.

As global competition in digital currencies intensifies, the EU's acceleration of the digital euro project will undoubtedly have a profound impact on the international financial landscape. All parties will closely monitor the EU's subsequent actions and their effects on the development of global digital currencies.