European Central Bank board member Piero Cipollone has delivered a stark warning to the continent’s banking sector: stablecoins could cost lenders the retail deposits they depend on to functi
European Central Bank board member Piero Cipollone has delivered a stark warning to the continent’s banking sector: stablecoins could cost lenders the retail deposits they depend on to function, adding a third layer of damage on top of losses already inflicted by mobile payments.
Cipollone laid out the threat in a speech Friday at a banking conference in Rome, pitching the digital euro as the only structural response available to eurozone institutions.
