Digital euro offers better privacy protections than private stablecoins: ECB official
Unlike private companies, the ECB has “no commercial interest” in monetizing users’ data, the ECB executive board member argued. Go to Source Powered by WPeMatico
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ECB: Digital Euro to Boost Global Appeal of European Money, Fight ‘Artificial Currencies’
The digitization of traditional currencies like the euro has the potential to increase their international appeal, the European Central Bank says in a new report. A failure to offer a digital currency would endanger financial stability, ECB warns. The regulator is concerned about the prospect of tech giants dominating payments through their “artificial currencies.” Eurozone’s … Read more
European Union to Release Digital Wallet for Payments Next Year
The European Union (EU) will launch a digital wallet allowing citizens of any country in the bloc to make payments and access services provided by each state, also allowing for the storage of digital ID information. The wallet, which will reportedly be launched next year, could be tied in with the digital euro project, a … Read more
ECB says digital euro may be needed to combat ‘artificial currencies’
The ECB’s annual euro report stressed that a digital euro may be needed to fight off the threat of “artificial currencies” from “foreign tech giants.” Go to Source Powered by WPeMatico
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 … Read more
100M euro digital bond was a CBDC test, says Banque de France
European financial institutions are using pilots to make a case for the digital euro. Go to Source Powered by WPeMatico
ECB leader floats 3K threshold for digital euro holdings
The central bank said it will reach a decision on releasing a digital euro “towards the middle of 2021.” Go to Source Powered by WPeMatico
Italian Banking Association launches experimental digital euro project
The Italian Banking Association, ABI, is conducting digital euro tests as the European Central Bank is yet to make a clear decision on a central bank digital currency. Go to Source Powered by WPeMatico
EU will decide on digital euro in January 2021: ECB president
“At that point in time we will make the decision as to whether or not we go forward with the digital euro.” Go to Source Powered by WPeMatico
Digital euro will not be ‘a substitute for cash’: ECB President
“A digital euro could be a complement to, not a substitute for, cash,” Lagarde said. Go to Source Powered by WPeMatico
