European Central Bank Explores Creating Its Own Digital Currency

The European Central Bank is leaning toward a “if you can’t beat them, join them” stance regarding digital currencies, recognizing shortcomings of the existing system and consumer demand for better solutions. The bank will explore new technologies that could ensure safety for consumers, including a central bank digital currency, ECB board member Benoît Cœuré suggested in a speech this week. “National providers in particular have not been able, or willing, to act in a pan-European manner. Twenty years after the introduction of the single currency, we still do not have a European card scheme,” Cœuré said. “The Eurosystem therefore […]

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