𝐄𝐮𝐫𝐨 𝐬𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧𝐬 ≠ 𝐭𝐡𝐞 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐞𝐮𝐫𝐨 🇪🇺 Euro e-money tokens and the planned ECB retail central bank digital currency (CBDC) are fundamentally different instruments - built on different rails, with different legal classifications, serving different use cases through different distribution channels. Treating one as a substitute for the other is a costly policy mistake we should not make. For those who want to dig deeper, I wrote a longer piece on how euro stablecoins contrast with both the planned retail and wholesale euro CBDC in @TheBigWhale_ link in comments. Feedback welcome!(Patrick Hansen)