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The changed US stance on digital currencies “could eventually reignite foreign and US tech giants’ plans to launch mass payment solutions based on dollar-denominated stablecoins,” Gramegna said. “And if this were to be successful, it could affect the euro area’s monetary sovereignty and financial stability.” Therefore the ESM supports the ECB’s “urgency in making the digital euro a reality to safeguard Europe’s strategic autonomy — this digital euro is today more necessary than ever,” he said.