Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
The European Central Bank has received parliamentary support to develop a digital euro, aiming to reduce reliance on U.S.-based payment networks like Visa and Mastercard. This initiative is driven by concerns over geopolitical tensions and the potential weaponization of U.S. financial infrastructure.
Why it matters
It represents a significant shift in European monetary sovereignty and a strategic move to insulate the EU economy from U.S. sanctions or trade policy volatility.
Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards FILE PHOTO: Illustration shows Euro banknotes, Visa and Mastercard cards · Reuters Francesco Canepa and Valentina Za Tue, June 23, 2026 at 6:27 AM EDT 4 min read V MA Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
The article reports on a policy development using neutral language, though it acknowledges the geopolitical motivations behind the project.
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