European Central Bank Plans To Release CBDC By October, But Public Does Not Want One

by Jacob M. Thompson | Winepress News

European Central Bank (ECB) head Christine Lagarde recently revealed that the bank is eyeing to release its coveted digital euro, a central bank digital currency (CBDC), later this October. However, after making this announcement, the ECB admits that the public is still not on board.

The WinePress reported in October 2023 that the ECB had entered into a “preparation phase” with its CBDC development. Lagarde said at the time that “the digital euro is on the move,” making sure to note that “cash is here to stay.”

The ECB says that the digital euro is simply just a digitized form of cash, saying “it would offer another way to pay in stores or online shops, or to send money to friends and family.” The ECB adds, “a digital euro would be backed by the same institution that backs your cash – us, the European Central Bank. And just like cash, it would always be worth its face value.” Read Full Article >