ECB releases latest progress report on the project
IN BRIEF:
- The digital euro could be made available to via existing banking apps or via an app provided by the Eurosystem
- Banks would be required to provide a set of mandatory core services to end-users
- P2P payments are seen as an essential feature by residents, according to focus groups carried out by the ECB in every euro area country
What does this mean?
While a final decision on a digital euro has not yet been made, potential launch has been cited as 2026 at the earliest. In its initial releases, a digital euro would be accessible to euro area residents, merchants and governments.
