Stablecoins & the Digital Euro: why financial professionals need to keep up now
Stablecoins are evolving at lightning speed from a niche instrument within the crypto world to a fully-fledged part of the financial mainstream. According to Dave Remue, Fintech & Payments Head at KPMG Belgium, this growth is mainly driven by rising volumes, a stricter regulatory framework (such as the Genius Act in the US and MiCA in the EU) and the growing understanding that stablecoins can be more than just a tool for crypto investors.
Stablecoins introduce new efficiency into financial transactions. Banks increasingly realise that they can use them to accelerate and optimise certain processes without compromising on security or compliance, says Dave Remue.
With regulations such as MiCA, the landscape is becoming more professional. More and more banks are experimenting with stablecoins and are already offering them to institutional clients with benefits such as 24/7 availability, instant settlement and lower liquidity buffers.
Persistent misunderstandings
Although adoption is growing, several stubborn misconceptions remain:
About stablecoins:
- that they are used exclusively for crypto trading
- that they are always stable (not subject to price fluctuations)
- that they are a risk‑free entry into crypto
- that returns would be tax‑free
- that they are mainly used for illegal transactions
About CBDCs (such as the Digital Euro):
- that governments can use them to track every citizen’s payment
- that they will replace Bancontact, Mastercard, Visa or other digital payment methods we use today
- that they are intended only for everyday retail payments
- that banks will be pushed aside because of them
It remains essential to nuance these misunderstandings. Stablecoins and CBDCs coexist alongside traditional payment methods, each with specific advantages and use cases.
The strategic role of banks
Banks remain a crucial link in the digital money ecosystem. They are responsible for the distribution, integration and acceptance of new forms of money such as CBDCs, tokenised deposits and increasingly also stablecoins. According to Remue, tokenisation will become one of the most important technological building blocks of the future.
Why the Digital Euro is coming
The strategic objectives of the European Central Bank are clear:
- a safe and regulated digital alternative to cash
- a European counterpart to foreign CBDCs
- strengthened European sovereignty in payments
- a digital instrument that can make capital market transactions more efficient
In the short term, the Digital Euro will become an additional payment method. In the long term, the impact will depend on adoption: how many citizens will actually use it, and what new services banks will build around it.
Money in 2035: more diverse, more digital, more efficient
According to Remue, by 2035 money will become more diversified: stablecoins, CBDCs and tokenised deposits alongside traditional money. The biggest changes will happen behind the scenes: faster settlement, automated transactions and AI‑agents executing payments within preset parameters.
For everyday retail transactions, consumers will notice little difference when paying for daily purchases. We will still be able to pay with physical money or cash, although its use will decline. What is certain is that the digital euro will be usable for all transactions, both in the physical world and online, for those who choose to use it.
What can you already do today?
- Participate in the Digital Euro pilot project
- Study and assess whether and where stablecoins could fit into your bank’s strategy
- Actively engage with payment actors and fintechs about possible use cases; for example, Qivalis, an initiative of the European banking sector aiming to develop a euro‑linked stablecoin as a counterpart to dominant USD players
- Experiment with new technologies such as stablecoins, CBDCs, tokenisation and AI finance
The financial sector is undergoing a structural transformation. Those who actively build knowledge today will be better positioned tomorrow.
Deepen your knowledge on 5 May
On the 5th of May, Dave Remue (KPMG Belgium) will give the training
“Stablecoins & the Digital Euro” at Febelfin Academy.
A unique opportunity to learn from a top expert how your organisation can stay future‑proof.
