Nature of money under scrutiny as e-euro starts to take shape
Some relief for commercial banks worried about the latest disrupter
The promised digital euro started to take shape this week, and signals from Frankfurt may offer some relief to nervy commercial banks worried about being sidelined by the latest disrupter. With the “hands off” pandemic accelerating the demise of physical cash, and private-sector crypto and stablecoins threatening to invade the space, the pledge last year of a digital euro within five years came before the European Central Bank (ECB) knew what exactly it would be or how it would function.
The debate over design has ranged widely — from digital tokens to direct central bank accounts or something in between. But responses from the ECB’s public consultation, released this week, have gone some way to narrowing the options, with the feedback showing a preference for privacy, though not anonymity, and a role for the existing banking system...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.