Digital euro – why should retailers and wholesalers care?
Reports and studies - Payments
20 March 2023
Digital currencies have been a hot topic in recent years. With Meta’s plans to launch the Diem stablecoin (called ‘Libra’ at the start), Bitcoin’s rise and subsequent volatile descent and the recent cryptocurrency exchange FTX bankruptcy, digital currencies are stirring a lot of media and political attention today and in coming years. Many central banks across the world are investigating how they could introduce digital currencies themselves, the so-called Central Bank Digital Currency (CBDC) in the retail environment. Between central banks themselves and between central and commercial banks, ‘wholesale’ CBDCs have been in use for years already.
We put this information paper together to inform retailers and wholesalers alike why the digital euro is interesting for the sector and why the European Central Bank is investigating its introduction to the market.