Central Banks
ECB’s Digital Euro Moves One Step Closer to Becoming Reality
ECB lists benefit including universal acceptance for payments across the 20-nation bloc and an absence of the volatility that’s dogged crypto-currencies.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
The European Central Bank shifted to the next stage of its digital-euro project — preparing the ground to issue the currency in the coming years, though a final decision has yet to be taken.
The Governing Council gave the green light to move to a “preparation phase” that will initially last two years, the ECB said Wednesday in a statement. During that time, the ECB will complete its rulebook and select providers to develop a platform and the needed infrastructure.