Digital Euro: German Minister Calls for Quick Decision on EU CBDC

  1. According to Reuters, the German finance minister Olaf Scholz wants Europe to move faster with developing a working digital currency product. “On the digital euro, I think we should work very hard. should be able to decide at any time that now we should do something with a digital euro.
  2. Back in September, European Central Bank was soon to publish its report on plans for a digital Euro.
Credits: Unsplash

Huge Demand for Digital Currency

According to Reuters, the German finance minister Olaf Scholz wants Europe to move faster with developing a working digital currency product.
“On the digital euro, I think we should work very hard. It is nothing where we should wait and see. should be able to decide at any time that now we should do something with a digital euro.”

CBDC and Private Stablecoins

Scholz’s comments calling for the ECB to increase the pace of its digital Euro development effort comes as many countries are making significant strides in the CBDC arena. Earlier in November, the Bank for International Settlements issued a paper stating that sovereign digital currencies might be better than private stablecoin projects like Facebook’s Libra.

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