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Run on stablecoins could force ECB to adjust monetary policy, Sleijpen?tells FT

BY Reuters | ECONOMIC | 11/17/25 12:17 AM EST

Nov 17 (Reuters) - The European Central Bank could be forced to adjust monetary policy if a run on stablecoins were to send shockwaves through the economy, a top ECB policymaker told the Financial Times in an interview published on Monday.

"If stablecoins in the U.S. increase at the same pace as they have been increasing?.?.?.?they will become systemically relevant at a certain point," the Dutch central bank governor Olaf Sleijpen told the newspaper.

Sleijpen added that the digital tokens could create risks for financial stability, the economy and inflation in Europe that would potentially force the ECB's hand. (Reporting by Nilutpal Timsina in Bengaluru; Editing by Jacqueline Wong)

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