Erald Ghoos, CEO of OKX Europe, expressed support for coexistence between the ECB’s digital euro and private stablecoins, describing the digital euro as a programmable digital version of cash. However, he warned against the risk of a public monopoly if the digital euro became the only authorized digital currency in Europe. Additionally, the implementation of the MiCA regulation has significantly reshaped the European stablecoin market: Tether, issuer of USDT with a market cap of $183.9 billion, did not obtain the required EMI license, forcing regulated platforms like OKX to remove USDT from their European offering. OKX secured a one-way conversion solution from regulators, allowing users to transfer USDT to the platform and convert it to MiCA-compliant USDC.
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