Member of the European Central Bank Board: Need to launch digital Euro as a response to Trump's promotion of cryptocurrency

European Central Bank board member Piero Cipollone said on Friday that Eurozone banks need a digital euro to respond to U.S. President Donald Trump's efforts to promote stablecoins, which are usually pegged to the dollar and considered as a type of cryptocurrency by the European Central Bank. This would help attract more customers away from banks and strengthen the case for the European Central Bank launching its own digital currency.