Speaking during an event in Spain, the former International Monetary Fund chief said euro-linked stablecoins are “not an efficient way” to strengthen the international role of the euro. Lagarde’s remarks come as several European banks and financial firms push forward with euro-denominated stablecoin projects aimed at challenging the dominance of the U.S. dollar in the crypto market. Still, the ECB president expressed skepticism, warning that stablecoins could create vulnerabilities similar to those seen in money market funds, particularly during periods of market stress or large-scale withdrawals. She pointed … (full story)