According to CoinMeta, Mario Draghi, a member of the Executive Board of the European Central Bank, stated that the digital euro will help European banks enhance their competitiveness, and there are plans to officially launch it in 2029. Draghi pointed out that the digital euro project is not only aimed at addressing the shortcomings of the European payment system but also represents an opportunity to think about the future and provide a platform for innovation. He emphasized that new opportunities are constantly emerging, and European payment service providers need to have the capability to seize these opportunities in order to establish a strong competitive advantage. In addition, Europe currently relies heavily on American payment companies such as Visa and Mastercard, and the development of dollar-pegged stablecoins has also increased concerns among policymakers.