Currency of Power

Currency of Power

The New Money Stack: Europe's Digital Currency Choice

Why Europe needs both CBDCs and stablecoins to compete

Nicolas Colin's avatar
Marieke Flament's avatar
Nicolas Colin and Marieke Flament
Jul 01, 2025
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With the rise of stablecoins, a new technological and ideological stack of money is being designed. The choices made today, whether opting for central bank digital currencies (CBDCs), stablecoins, or some combination, will determine the future of our economies.

Yet approaches across the globe diverge dramatically. The US explicitly rejects CBDCs while em…

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