[Head of the European Stability Mechanism: Stablecoins Could Threaten Financial Stability if Lacking Proper Collateral and Regulation] According to Bloomberg, a senior EU policymaker stated that stablecoins could threaten financial stability if they lack proper collateral and regulation. Pierre Gramegna, President of the European Stability Mechanism (ESM), said in Washington on Wednesday that if stablecoins become mainstream and cannot be backed like central bank currencies, they would pose risks to the global financial system. He emphasized that he is not opposed to stablecoins but stressed that they must operate within a framework that ensures the safety of consumers and financial participants. Additionally, although Austria's central bank governor Martin Kocher believes stablecoins will not be as popular in the Eurozone as in other regions, Gramegna pointed out that the EU cannot afford to be marginalized in the cryptocurrency space. Since 99% of stablecoins are denominated in U.S. dollars, Gramegna argued that if Europe does not launch euro-denominated stablecoins, it will miss out on opportunities. He also expressed the view that cash, digital currencies, and stablecoins could coexist.