French Finance Minister Roland Lescure has urged European banks to develop more euro-pegged stablecoins, warning that their current circulation is "not satisfactory" compared to dollar-backed alternatives. Speaking via pre-recorded remarks at a Paris crypto conference, Lescure endorsed a joint initiative by ten European banks — including ING, UniCredit, and BNP Paribas — to launch a euro-pegged stablecoin (a cryptocurrency designed to hold a stable value by being backed by a traditional currency) in the second half of 2026. The push highlights a growing transatlantic gap in digital finance: Tether, the world's largest stablecoin, has over $185 billion in dollar-pegged tokens in circulation, while Société Générale's euro-pegged equivalent holds just €107 million since its 2023 launch.