Key Takeaways:
ECB President Lagarde called euro-denominated stablecoins a financial stability risk on May 8, 2026.Lagarde mentioned that USDC depegged to $0.877 during SVB’s 2023 collapse, exposing $3.3 billion in Circle reserves.The ECB’s Pontes project launches in September 2026 to anchor DLT settlement in central bank money.“Our task is not to replicate instruments developed elsewhere, but to build the foundations and the infrastructure that serve our own objectives, so that we can harness the benefits of innovation without importing the fragilities,” Lagarde said.
