In this episode, Elliot Hentov, Chief Macro Policy Strategist at State Street Investment Management, and John Orchard, Chairman at OMFIF Digital Monetary Institute, discuss how digital money and stablecoin innovation could create new opportunities for the euro in the global financial system. The conversation explores why the euro has struggled to challenge the dollar’s reserve currency dominance, how euro-denominated stable assets could offer an alternative model, and what political, economic, market and technological hurdles would need to be overcome. They also examine the potential role of yield-bearing stablecoins and whether similar approaches could be applied to other major currencies.