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“A digital euro would also enhance the integrity and safety of the European payment system at a time when growing geopolitical tensions make us more vulnerable to attacks to our critical infrastructure,” be available “to everyone, everywhere, for free,” and could stimulate innovation and competition in a market dominated by
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New York-headquartered investment bank JPMorgan Chase & Co. has launched euro-denominated transactions on its blockchain-based payment system, JPM Coin, Bloomberg reported on Friday. See related article: JPMorgan teams up with Indian banks for blockchain-based settlements: BloombergFast factsGermany’s engineering and manufacturing company Siemens AG was the first to use JPM Coin for
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Since its inception in 2019, over $300 billion in transactions have been processed using JPM Coin. Source
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Villeroy de Galhau touched on not only the e-euro but also the banking crisis and its consequences for the eurozone. With the evolution ongoing in the fintech world, central banks including Banque de France are actively investigating the concept of Central Bank Digital Currencies (CBDCs) as viable replacements for traditional fiat
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The digital euro holds something in store for every stakeholder, Governor of the Banque de France François Villeroy de Galhau told commercial bankers on June 22. Disintermediation is not in the works, he said at the Global Official Institutions Conference hosted by French multinational bank BNP Paribas.Before addressing the euro
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A plan to legislate for the central bank digital currency may still be on track for publication, but there is still significant political skepticism about the purpose. Source
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BRUSSELS, Belgium – The European Commission is back on track to publish legislation on a digital euro on June 28, after the controversial topic was previously removed from the executive’s agenda, the bloc’s lead financial services official said on Tuesday. Source
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Slovakia will codify the right to use cash as a method of payment after a vote to amend the nation’s constitution passed in parliament on June 15. The new legislation was sponsored by the Sme Rodina party, also known as the “We Are Family” party, and was reportedly drafted as a
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A bill covering privacy and distribution of the central bank digital currency, originally scheduled for June 28, will be delayed Original Source
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The potential issuance of fiat currency in digital form has garnered global attention, with various jurisdictions exploring the concept. The EU, the US, and the UK are among those actively considering the implementation of a CBDC. A leaked draft of the proposed Digital Euro Bill, set to be proposed by the
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