The President of the European Central Bank (ECB), Christine Lagarde, said that the digital euro will complement cash and allow payments to be made anywhere in the eurozone.
At the regular plenary session of the European Parliament, Christine Lagarde said that the experts of the Central Bank are studying the possibilities of the state digital currency in order to offer citizens a convenient and risk-free means of payment. The digital euro will allow people to pay anywhere in the eurozone with “risk-free digital money”.
Lagarde stressed that the digital euro will not replace cash, but rather be an addition to it. It is expected that users of the state cryptocurrency will pay with it, for example, in online stores. Note that now the ECB, for the first time in 20 years, is developing a new banknote design.
“The digital euro will still be the euro: like banknotes, but digitally,” Lagarde said.
Last November, ECB executive board member Fabio Panetta said that if the state digital currency is used for savings, it will hurt banks and the fiat euro. In the same month, the ECB included cryptocurrencies and stablecoins in a new expanded regulatory framework for regulating electronic payments.
Source: Bits
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