Xinhua News Agency, Frankfurt, October 2 (Reporter Shen Zhonghao left) A report issued by the European Central Bank on the 2nd stated that the bank plans to make a decision on whether to launch the digital euro project in mid-2021.
The report pointed out that the digital euro may provide citizens of the euro zone with a safe form of currency.
The issuance of a digital euro is conducive to supporting the digitalization of the European economy and the EU’s strategic independence, in order to cope with the significant decline of the role of cash as a means of payment. It can also be used as a new monetary policy transmission channel to reduce risks in conventional payment services, enhance the international status of the euro, and improve the currency And the total cost of the payment system.
European Central Bank President Lagarde said that consumption, savings and investment behavior of Europeans are becoming more and more digital.
The European Central Bank will ensure that people trust the euro and adapt it to the digital age.
"If needed, we should be prepared to issue a digital euro."
The European Central Bank will launch a public consultation on October 12 to listen to opinions from the public, academics, financial institutions, and public departments on the digital euro project to assess demand.
Related internal tests will also be carried out simultaneously.