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Virtual currency: The digital euro could see the light of day in 2025

27/04/2021
Categories: Economy/Forex

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A report presented by the ECB to the European Parliament indicates that European citizens are in favour of a digital euro. Thus, Christine Lagarde declares that the digital euro, a complement to banknotes and coins, could see the light of day in 2025.

In October, the ECB launched a consultation on the digital euro for individuals. Consultation which received 8,221 responses, mainly citizens (94%), men between 35 and 54 years old, of German (47%), Italian (15%) and French (11%) nationality. Thus, European citizens are in favour of a digital euro, provided that it respects their privacy. The digital euro must be simple, secure, free of charge and ensure the confidentiality of transactions such as cash.

In a practical way, respondents want a euro 2.0 that is simple to use, without additional costs and that would allow fast and reliable payments via payment cards or smartphones.

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