ECB officials move to ‘preparation phase’ for digital euro

ECB officials move to ‘preparation phase’ for digital euro
The governing council of the European Central Bank (ECB) has announced it will begin the ”preparation phase” for the digital euro project following a two-year investigation.

In an Oct. 18 notice, the ECB said it plans to “start laying the foundation for the possible issuance of a digital euro” beginning on Nov. 1, adding the issuance of a central bank digital currency (CBDC) was not a foregone conclusion. The announcement followed the release of a 44-page report on a potential digital euro’s design and distribution.