Euro stablecoins ≠ digital euro 🇪🇺

Euro e-money tokens and the ECB's retail CBDC are NOT the same thing. Different rails. Different legal frameworks. Different use cases. Different distribution.

Treating them as interchangeable? That's a policy mistake with real costs.

Wrote a deeper breakdown on how euro stablecoins stack up against both retail and wholesale euro CBDCs. Link in comments if you want the full alpha.