Donald Trump's support for legitimate dollar-backed stablecoins may accelerate the European Central Bank's progress on implementing a digital euro, according to ECB board member Piero Cipollone. In a recent interview, Cipollone expressed hope that the EU Parliament and Council would finalize digital euro legislation by summer 2025, with proposed rules potentially completed by November. He remarked that the increasing presence of U.S. stablecoins could pose a risk to European banks as consumers might prefer holding cash in stablecoins over traditional bank accounts. Cipollone noted that the geopolitical landscape is becoming more responsive to these developments. Despite the potential advancement, acceptance of a digital euro faces opposition within the EU, with some politicians advocating for alternatives like Bitcoin. The ECB's digital euro initiative has been ongoing since 2020, with its preparation phase set to conclude in November 2025, allowing for an initial test rollout.

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