According to reports, the European Union is considering using mainstream public blockchain networks such as Ethereum and Solana as the technological foundation for the digital euro.

The Financial Times reported on Friday, citing informed sources, that the European Central Bank (ECB) is exploring whether to deploy the digital euro on public blockchains like Ethereum, rather than private blockchains.

Unlike private blockchains where data is only accessible to authorized parties, public blockchains like Ethereum or Solana are open to all users.

If this initiative is confirmed, the EU's exploration of public blockchains will become a key milestone in the development process of the digital euro. Currently, the ECB has not finalized the technical architecture of the project.

One person involved in the discussions about the digital euro told the Financial Times that adopting a public blockchain "is definitely an option that EU officials are now considering more seriously."

Another individual pointed out that if the digital euro adopts a private model, its operation would be "more akin to the approach of the People's Bank of China, rather than the model of American private enterprises."

This person specifically mentioned that the digital currency (CBDC) of the People's Bank of China is deployed in a private manner, contrasting it with public stablecoins developed by companies like Circle.

Europe has increasingly expressed concern over the development of American stablecoins driven by the Trump administration and their impact on the autonomy of the European financial system.

In April of this year, ECB Executive Board member Piero Cipollone called for reducing the use of European stablecoins through the issuance of a digital euro, noting that dollar-pegged stablecoins account for 98% of the stablecoin market, and their widespread use poses risks.

The ECB has not publicly confirmed whether it is considering Ethereum or Solana. Cointelegraph has inquired about this information from the European Central Bank but has not received a response as of the time of publication.

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Original article: Financial Times: EU explores using Ethereum (ETH) and Solana (SOL) blockchain to issue digital euro

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