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ECB takes first step towards digital euro

FRANKFURT (Reuters) – The European Central Financial institution took a primary step on Wednesday in the direction of launching a digital model of the euro, a part of a worldwide drive to satisfy rising demand for digital technique of fee and deal with a increase in cryptocurrencies.

“The Governing Council of the European Central Financial institution (ECB) has determined at present to launch the investigation section of a digital euro challenge,” the ECB mentioned in a press release.

“The investigation section will final 24 months and goal to handle key points relating to design and distribution.”

(Reporting By Francesco Canepa; Enhancing by Andrew Heavens)

ECB takes first step towards digital euro

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