Crypto News Today: EU Considers Ethereum and Solana for Digital Euro Launch

Key TakeawaysThe European Union is reportedly exploring Ethereum and Solana as potential platforms for the digital euro.A move toward public blockchains would mark a shift away from private models, such as China’s CBDC.EU officials see a public framework as more aligned with U.S. stablecoin models (e.g., Circle’s USDC).The ECB has not finalized the digital euro’s technical design.EU Eyes Public Blockchains for CBDCThe European Central Bank (ECB) is weighing whether to run the upcoming digital euro on a public blockchain such as Ethereum or Solana, according to a Friday report from the Financial Times.This would represent a sharp departure from private blockchain frameworks, where transaction data is restricted to authorized institutions. By contrast, Ethereum and Solana operate as open, transparent networks accessible to anyone.Public vs. Private ModelsOne person close to the discussions told the FT that a public model is “definitely something officials are taking more seriously now.”A private version of the digital euro would resemble China’s digital yuan (e-CNY), which is centrally controlled.A public version would mirror the U.S. approach, where private firms like Circle run stablecoins on open networks.This distinction highlights the philosophical divide: whether central banks should lean toward control and surveillance or openness and interoperability.Europe’s Stablecoin ConcernsThe EU’s interest in public blockchains comes amid growing anxiety over U.S. stablecoins.In April, ECB executive Piero Cipollone argued that stablecoins pegged to the U.S. dollar — which currently make up 98% of the global market — pose adoption and sovereignty risks.A digital euro could act as a counterbalance, giving European citizens and businesses an alternative to U.S.-backed assets.Unconfirmed but SignificantThe ECB has not officially confirmed whether Ethereum or Solana are being considered. A request for comment from Cointelegraph went unanswered.Still, if adopted, the decision would mark the first major central bank to launch a CBDC on a public blockchain, setting a precedent for future digital currency rollouts.The digital euro project remains in the design stage, with the final framework yet to be determined. Market watchers will be closely following whether the EU opts for:Ethereum → The largest smart contract network with broad institutional adoption.Solana → Known for faster throughput and lower costs, but with past network stability concerns.A decision in favor of public blockchains could reshape how central banks approach CBDCs, making the digital euro a potential global benchmark.