Digital euro Financial News

19.04 / 20:09

CBDC Adoption Europe European Union ECB Euro digital euro NOT European Parliament report recommends researching, but not launching, digital euro

An analytical paper released by the European Parliament Committee on Economic and Monetary Affairs has given the digital euro a mixed review. The title of the paper summed up its position: “Digital Euro: When in doubt, abstain (but be prepared).”

13.04 / 17:55

Provident Digital digital euro European savings banks ask: "What is the business case for a digital euro?"

In a position paper, the European Savings and Retail Banking Group (ESBG) highlights three areas where the introduction of a digital euro could have a negative impact on is members. While recognising that having digital money issued by the central bank would provide an anchor of stability for the monetary system, the association worries about the effect on balance sheet activities and the knock on consequences for consumer finance, mortgages and SME financing.

03.04 / 09:43

Provident Digital digital euro European savings banks ask: "What is the business case for a digital euro?"

In a positioning paper, the European Savings and Retail Banking Group (ESBG) highlights three areas where the introduction of a digital euro could have a negative impact on is members. While recognising that having digital money issued by the central bank would provide an anchor of stability for the monetary system, the association worries about the effect on balance sheet activities and the knock on consequences for consumer finance, mortgages and SME financing.

28.03 / 18:01

Adoption Europe European Union Banks Central Bank banking Euro digital euro European Banking Federation shares its vision of digital euro, wCBDC, bank tokens

The European Banking Federation (EBF) has released a paper detailing its vision for the digital money ecosystem of the future, and the retail digital euro in particular. The carefully worded paper expressed values and concerns about the digital euro from the perspective of commercial banks.

03.02 / 03:05

Digital digital euro ECB contemplates development of basic digital euro app

At the same time, the app would respond to the preferences of certain end users who have called for an independent access channel in which basic functionalities are available, as expressed by consumer’s associations and market surveys. "The app would ensure that no matter where you travel in the euro area, the digital euro would always be recognised and you would be able to pay with it," says Panetta.

24.01 / 03:31

Digital digital euro ECB contemplates development of basic digital euro app

23.01 / 21:07

CBDC Adoption Digital Currency Euro digital euro Executive ECB executive board member outlines plans for digital euro to European Parliament

The digital euro, should it come into existence, will preserve the role of the central bank by extending payment options beyond those offered by cash, European Central Bank (ECB) executive board member Fabio Panetta told a European Parliament committee Jan. 23.

20.01 / 19:11

COST Digital Progressive digital euro EU finance ministers take stock of digital euro; UK scepticism grows

Taking stock of progress, the group maintains that a digital euro should complement, and not replace cash, should be safe and resilient, ensure a high level of privacy, be easy and convenient to use and widely accessible to the public, including in terms of costs for end-users. Ministers also called for considering the environmental implications of the digital euro design.Privacy is emphasised as a key dimension in the design, while at the same time complying with other policy objectives such as preventing money laundering, illicit financing, tax evasion, and ensuring sanctions compliance.

17.01 / 16:17

COST Digital Progressive digital euro EU finance ministers take stock of digital euro; UK scepticism grows

17.01 / 00:51

CBDC regulation ECB Euro digital euro EU finance ministers’ group releases statement on political aspects of digital euro

The Eurogroup, consisting of all the finance ministers from the euro-zone countries, released a statement Jan. 16 on the introduction of the digital euro, after meeting in Brussels. The group meets regularly to discuss political dimensions of the potential digital currency, it said. The statement release coincides with the release of a European Central Bank (ECB) “stock taking” document detailing the progress of digital euro design.

21.12 / 22:23

Adoption Central Bank ECB Euro digital euro settlement Digital euro settlement, distribution options detailed in latest progress report

Progress continues on the creation of a digital euro, and the European Central Bank (ECB) has documented it in a second progress report that described design and distribution options recently approved by its governing council. The report considered four crucial issues, roughly in keeping with the timeline the ECB set for itself that tentatively culminates in a decision on whether to transition from the investigation to the realization phase of work in Q3 2023.

21.12 / 15:09

UPS Digital Citizens digital euro Digital euro to get thumbs up or thumbs down in 2023

report details a second set of design and distribution options that were recently endorsed by the ECB's Governing Council and describes:the role of intermediaries, responsible for the onboarding of end-users, anti-money laundering checks and consumer-facing services, such as payment initiation solutions;the settlement model, which defines who will settle online or offline transactions;the way in which funding and defunding will take place to allow users to convert cash and money from a bank account into digital euro;the distribution model. A digital euro scheme is envisaged since it is best suited to guaranteeing that all euro area citizens can pay and be paid in digital euro.

07.11 / 22:13

regulation ECB Euro digital euro Support Queen Máxima of the Netherlands comes out in support of digital euro

Máxima Zorreguieta Cerruti, Queen of the Netherlands, said she was encouraged by the work the European Central Bank had accomplished in its efforts to launch a digital euro.

29.09 / 21:47

CBDC Adoption retail ECB digital euro reports ECB reports on digital euro validation, privacy one year into investigative phase

The European Central Bank (ECB) Eurosystem digital euro project’s two-year investigative phase has reached its halfway point. The ECB published a progress report Sept. 29 that looked at design and policy issues that are under consideration or have been decided.

29.09 / 14:39

Provident Digital Amazon digital euro NOT Digital euro will not be available until 2026, at the earliest

One particular sticking point appears to be around offline use, in which transactions are validated on a peer-to-peer basis, as opposed to online checks conducted by individual banks. "The time to market for this solution is more uncertain” the ECB states.

23.09 / 18:05

Digital Amazon Mobile digital euro ECB taps CaixaBank and Amazon for digital euro prototypes

For its part, CaixaBank will focus on producing a prototype for P2P online payments using the digital euro.

16.09 / 22:17

business Amazon applications Euro digital euro European Central Bank chooses Amazon and 4 other firms to prototype digital euro app

The European Central Bank, or ECB, has announced it will be collaborating with five companies for the development of potential digital euro user interfaces.

16.09 / 18:13

Binance Amazon Cardano SEC crypto framework digital euro Framework Warning Amazon and 4 Others to Work on Digital Euro Prototype, White House's 'Comprehensive Crypto Framework', Hong Kong's Scam Warning + More News

16.09 / 16:55

Digital Amazon Mobile digital euro ECB taps CaixaBank and Amazon for digital euro prototypes

For its part, CaixaBank will focus on producing a prototype for P2P online payments using the digital euro.

25.08 / 00:57

CBDC Adoption regulation ECB digital euro services Bank of Finland governor says digital euro could facilitate pan-European services to consumers

In a novel address at the University of California Berkley published on Wednesday, Olli Rehn, governor of the Bank of Finland, touted the possibility of a digital euro centralized bank digital currency (CBDC) functioning in tandem with private fintech solutions to facilitate the cross-border payment of services across Europe.

24.08 / 15:42

cryptocurrency Digital Currency CryptoExplainer digital euro European Policymaker Sees Several Benefits To Possible Digital Euro

ECB's Rehn sees several benefits to possible digital euro

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