ECB is developing the implementation of a digital euro

The European Central Bank is developing the implementation of a digital euro, while banknotes will remain in circulation as long as they are in demand, stated Fabio Panetta, a member of the ECB Executive Board.

To ensure the compatibility of the digital euro with other CBDC variants, the ECB is actively collaborating with central banks from other countries.

Panetta emphasized that the ECB will not engage in the distribution of CBDC, and citizens will not have accounts in central banks. However, it is planned to set a limit of €3000 on digital euro accounts.

Currently, the ECB is developing a phased implementation of the digital euro in the Eurozone, starting with online payments for goods and transfers of funds between users within the Eurozone.

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