We continue sharing comments to today's breaking news about nine banks joining forces to launch an Euro stablecoin.

Here is his comments about the need for a stablecoin:

“Current Stablecoin market 99,9,5% US 0,5% Euros. Europe lost the race, but there is still time for us, so a EU stablecoin is needed and extremely important from a geopolitical point of view. Current global reserves are 55% USD and 20%, so there is a natural gap that can be covered.

These are Jakob Mikkel Hansen's reflections related to the question: Why is it the banks and not the industry that are the first to make a broad-backed Euro stablecoin?

“The euro zone is built by fragment law (each countries) so it has been hard for someone:

1) To be compliant before MiCA came out

2) To get the backing/collateral for a Euro stablecoin

3) To be a part of a distribution network for Euro stablecoins, as the largest players primarily operate in USD.”

Jakob Mikkel Hansen concludes his comments as follows.

“Blockchain is now part of the normal infrastructure. With banks paving the way for stablecoins, Nordic blockchain companies can scale faster, integrate with finance, which will strengthening the region as a hub for innovation and digital trust. Exciting times lie ahead for the ecosystem."

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Link to interview video: https://www.youtube.com/watch?v=60Ke-ndBdg4