Should the ECB’s digital euro create added value or replace what banks already offer?

31 March 2022

The European Central Bank has published a report on new digital payment methods that addresses the digital euro. Tobias Tenner, Head of Digitisation, on the ECB’s plans:

“The ECB has published a study which shows that customer demands are already met by what the banking industry has to offer. According to the study, it’s not important to customers whether digital euros come from the central bank or their own bank. Much more innovation is needed if a digital euro is to gain acceptance. To get on the right track, the ECB should cooperate with banks and, in particular, make use of the industry’s customer knowledge and expertise.”

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