Bundesbank President Nagel backs euro stablecoins and wholesale CBDCs under MiCA

Germany's Bundesbank President Joachim Nagel voiced support for euro-denominated private stablecoins and a wholesale CBDC under the EU's MiCA framework, speaking in Frankfurt. He argued these tools are needed to reduce reliance on USD-dominated payment rails and improve cross‑border efficiency. The stance marks a policy pivot toward building competitive euro options.