The European Union is considering using public blockchain networks such as Ethereum and Solana for the development of its digital euro, according to a report from the Financial Times. This marks a potential shift from private blockchain models—like those powering China’s digital yuan—toward more open and decentralized infrastructures.
ECB Looks to Public Blockchains
The European Central Bank (ECB) is reportedly evaluating whether the digital euro could run on established public blockchain networks instead of private, permissioned systems. Unlike private ledgers, where access is restricted to approved participants, public blockchains like Ethereum and Solana are transparent, decentralized, and accessible to all users worldwide.
If confirmed, this exploration would represent a major milestone in the EU’s central bank digital currency (CBDC) initiative. The ECB has not yet finalized the technological framework for the project, but the move highlights growing interest in aligning the euro’s digital future with existing blockchain ecosystems.
Public Models vs Private CBDCs
Sources familiar with the discussions told the FT that officials are taking public blockchains “much more seriously now” as a potential base for the digital euro. One insider noted that a private blockchain model would make the digital euro resemble China’s CBDC, while a public model would look closer to how US companies issue stablecoins such as Circle’s USDC.
Europe has raised concerns about the dominance of US dollar-pegged stablecoins, which currently make up 98% of the stablecoin market. In April, ECB board member Piero Cipollone stressed that the introduction of a digital euro could reduce Europe’s reliance on American-issued stablecoins and protect the autonomy of the European financial system.
Ethereum, Solana, and the Future of the Euro
While the ECB has yet to officially confirm whether Ethereum or Solana will be used, the consideration signals the EU’s intent to explore blockchain infrastructures that already secure billions of dollars in daily transactions. Both networks are widely adopted, interoperable with decentralized finance (DeFi) ecosystems, and recognized for their strong developer communities.
The ECB has not responded to requests for comment on its blockchain strategy, leaving open questions about how the digital euro will ultimately be deployed. Still, the exploration of Ethereum and Solana underscores the EU’s commitment to creating a secure, transparent, and globally competitive CBDC.
