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 <p class="is-style-lead">The European Central Bank emphasizes that the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro will modernize and <a rel="noopener noreferrer nofollow" title="future-proof" href="https://thebittimes.com/tag/future-proof.html">future-proof</a> the pan-European financial ecosystem.&nbsp;</p>
 <p>The European Central Bank (ECB) today has published a statement on how the digital euro will benefit EU consumers and transform the European economy. The ECB emphasized that its key aim is to proactively future-proof the euro as a currency, as consumer payment behavior is rapidly shifting towards electronic transactions.&nbsp;</p>
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    <p lang="en" dir="ltr">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.<br><br>That’s what a <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro would be.<br><br>Why would it be so important for Europe? Find out more https://t.co/uNeB5sZtHa #<a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a>euro pic.twitter.com/M7EMpWsTrQ</p>— European Central Bank (@ecb) October 25, 2023
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 <p>The <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro is expected to offer an additional, universally accepted payment option, and the ECB mentions the launch of a <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro will not change the circulation of cash. One of the key drivers behind this initiative is the need to ensure the euro remains competitive and resilient, especially against non-European payment providers. According to the ECB, a <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro would bolster Europe’s strategic autonomy and monetary sovereignty, offering a robust platform for innovation in the payment services sector.</p>
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 <p>Importantly, the digital euro would bridge a notable gap in the financial ecosystem. Currently, the public can only access central bank money in the form of physical banknotes and coins. A digital version would essentially democratize access to central bank money, allowing for secure, efficient transactions across the euro area, free of charge for all its citizens.</p>
 <p><br>Central bank <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> currencies (CBDCs) are gaining traction this year, as nearly 130 countries are currently exploring the adoption of <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> currencies. However, until now, the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro has established a more robust and strategic approach, labeling how the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> currency will be utilized throughout the region.&nbsp;<br></p>
 <p>The ECB has developed a two-year initiation phase for the development, trial and adoption of the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro. Recently, the deputy governor of the Spanish National Central Bank also emphasized how the <a rel="noopener noreferrer nofollow" title="digital" href="https://thebittimes.com/tag/digital.html">digital</a> euro will make pan-European financial services more convenient and efficient.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ecb-details-how-the-digital-euro-will-future-proof-the-european-market-tbt67772.html">https://thebittimes.com/ecb-details-how-the-digital-euro-will-future-proof-the-european-market-tbt67772.html</a></p>

ECB details how the digital euro will future-proof the European market

TheBitTimes

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