[The President of the German Federal Bank Advocates for the Introduction of a Euro-Pegged Stablecoin to Prevent Dollarization] Odaily Planet Daily News – Joachim Nagel, a member of the European Central Bank Governing Council and President of the German Federal Bank, stated in a speech at the American Chamber of Commerce in Germany that introducing a euro-denominated stablecoin could provide low-cost cross-border payment services for individuals and businesses, while addressing the risks of dollarization posed by USD stablecoins. Joachim Nagel pointed out that if domestic currencies are replaced by USD stablecoins, it would equate to the dollarization of the respective economies, potentially severely undermining the effectiveness of domestic monetary policies and European sovereignty. Currently, the European Central Bank is evaluating the potential use of distributed ledger technology in non-central bank money, including tokenized deposits and euro stablecoins, and plans to launch a digital euro by 2029. Additionally, the European Central Bank is developing a wholesale CBDC to enable financial market participants to execute programmable transactions.