Joachim Nagel, president of the Deutsche Bundesbank, reaffirmed support for euro-denominated central bank digital currency (CBDC) and regulated payment stablecoins to enhance European payment system independence. Addressing an audience in Frankfurt, he highlighted EU officials’ retail CBDC push amid concerns over the dominance of USD-backed stablecoins under the GENIUS Act. Nagel stressed that euro-linked digital currencies could strengthen sovereignty and mitigate risks from foreign-controlled payment networks.