ECB Deepens Analysis of Digital Euro, Decision Expected by Mid-Year, VP Confirms

ECB Deepens Analysis of Digital Euro, Decision Expected by Mid-Year, VP Confirms


Faced with challenges on many fronts, the European Central Bank is now deepening the analysis of how to digitalize its currency. A decision on whether to issue a digital euro, which has the potential to become a major CBDC, is expected around mid-2021, a high-ranking official of the central bank has confirmed.

Eurozone’s Central Bank to Decide on the Digital Euro Project Within Months

Occupied with planning a “cautious exit” from the social, economic and health emergency forced upon the European Union by the Covid-19 crisis, the ECB is also compelled to think about a digital version of the euro, the fiat currency of Europe’s monetary union. The U.S. Federal Reserve is preparing to present prototypes of a digital dollar in July, Facebook-backed, dollar-pegged diem is set to launch this year, and China has already offered its citizens to apply for a digital yuan wallet.

Trending: Mike Lindell Headlines Bikers For Trump Mother’s Day Rally!

Luis de Guindos, Vice President of the ECB

On this backdrop, the central

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Thanks for sharing!
Send this to a friend