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<div class="coinjournal">
 <ul>
 <li>Banco de España has backed the digital euro.</li>
 <li>The digital euro promises offline payments and privacy, akin to cash.</li>
 <li>European central banks, including the Bank of Finland, are supportive of the digital euro project.</li>
 </ul>
 In a significant move towards <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a>ization, Banco de España, Spain’s central bank, is aligning with its European counterparts to introduce a <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro.
 This initiative aims to revolutionize the way financial transactions are conducted, offering a range of potential benefits for consumers and businesses.
 <h2 id="a-new-era-in-finance-with-the-digital-euro">A new era in finance with the digital euro</h2>
 Banco de España has joined the growing chorus of European central banks in endorsing the digital euro, a central bank digital currency (CBDC).
 The traditional form of physical cash, according to the central bank, falls short of harnessing the advantages presented by the increasingly digitalized economy and society. As a response, the digital euro is set to emerge as a pivotal component of the financial system, paving the way for electronic payments to become more seamlessly integrated into daily financial transactions.
 The “preparation phase” of the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro project, which commenced on October 18, is expected to continue until 2025. It’s important to emphasize that the final decision regarding the issuance of the pan-European CBDC is yet to be determined.
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 As more and more people are choosing to pay <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a>ly, we want to offer a <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> form of central bank money with the same guaranteed value as cash.
 That’s what a <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro would be.
 Why would it be so important for Europe? Find out more https://t.co/uNeB5sZtHa #digitaleuro pic.twitter.com/M7EMpWsTrQ
 — European Central Bank (@ecb) October 25, 2023
 </blockquote>
 
 The Bank of Finland has also expressed its support for the digital euro, underscoring its significance in the European payment sector. Furthermore, the European Central Bank (ECB) has launched a dedicated information page to enlighten the public about the digital euro’s potential benefits, promising an “easier life” and a “stronger Europe.”
 As the digital euro project advances, it holds the promise of revolutionizing the way financial transactions are conducted, offering enhanced privacy, offline payment capabilities, and a seamless transition into the digital age of finance.
 <h2 id="key-advantages-of-the-digital-euro">Key advantages of the digital euro</h2>
 One of the notable features of the digital euro is its ability to facilitate offline payments. Users will be able to engage in transactions even without an internet connection, enhancing its versatility and accessibility.
 The other advantage is that the level of privacy offered by the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro. The <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro will hopefully address concerns about data security and user anonymity. Notably, when using the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro online, user data will remain visible only to their respective financial institutions and not to the central bank’s infrastructure provider, Eurosystem.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bank-of-spain-banco-de-espa-a-embraces-digital-euro-tbt67695.html">https://thebittimes.com/bank-of-spain-banco-de-espa-a-embraces-digital-euro-tbt67695.html</a>

Bank of Spain, Banco de España, embraces digital euro

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