Digital euro could come as soon as 2026 — ECB official
Commenting on the recent market volatility, Fabio Panetta also said stablecoins were still “vulnerable to runs,” just as investing in cryptocurrencies carried certain risks. Fabio Panetta, an executive board member of the European Central Bank, or ECB, has said that a digital euro could come within four years, potentially designed with a person-to-person payment solution.In a Monday speech at the National College of Ireland, Panetta said the ECB could start the development and testing of solutions toward providing a digital euro for members of the European Union in 2023, a phase that could....
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The underlying architecture of the digital euro will be designed to have a negligible environmental footprint compared to Bitcoin and other crypto-assets. The European Central Bank, or ECB, joins the growing club of crypto-friendly financial institutions as it announces the decision “to launch a project to prepare for possibly issuing a digital euro.” The ECB’s official tweet noted:“We will look at how a digital euro could be designed and distributed to everyone in the euro area.”According to a press release on July 14, the ECB's governing council has launched the investigation phase of a....
A consortium of major European banks has formed Qivalis, a new entity in Amsterdam to launch a euro-pegged stablecoin in 2026. A Tenth Bank Has Now Joined The Euro Stablecoin Consortium Back in September, nine big European banks announced a consortium aimed at developing and launching a euro-based stablecoin, a digital asset that will have […]
With concerns about financial stability in mind, the European Central Bank (ECB) plans to limit digital euro holdings, according to Board Member Fabio Panetta. The plan is to have a maximum amount of digital cash in circulation similar to that of euro banknotes today, the official unveiled.
Eurozone’s Central Bank to Keep Total Digital Euro Holdings Below 1.5 Trillion
A digital euro could potentially lead to the conversion of a large share of bank deposits in the euro area into digital cash, Member of ECB’s Executive Board Fabio Panetta warned in a statement at the....
Europe’s digital currency project has made some progress recently, with the Eurozone’s central bank moving to its next stage. Critics point, however, to the continuing lack of clarity around the design and purpose of the digital euro after a decade-long delay, if cryptocurrency is taken as a benchmark. Digital Euro to ‘Feel Like a Prepaid Card of Sorts’ A week after the European Central Bank (ECB) decided to proceed with its plan to create a digital version of the euro, experts have voiced concerns about its unclear future. On July 14, the Governing Council of the....
A group of economists evaluating the potential effects of a digital euro have insisted that restricting access to the upcoming currency is necessary to preserve the current financial system. Their study follows an earlier proposal to limit digital euro deposits at the European Central Bank (ECB) to €3,000 per person. Limited Availability of Digital Euro Expected to Prevent It From Becoming Too Popular Europeans’ access to a digital euro should be restricted to prevent a flight of capital from deposits at commercial banks, according to a report published by the European....