ENGLISH SECTION: Why banks need to pay attention to where a digital euro is heading
The European Central Bank makes clear that the development of its “digital euro” will take several years. Yet given the geopolitical context and the potential impact, banks should better pay attention, ING analysts wrote. This week, the ECB published an overview of the consultation responses it received on its digital euro survey. The results show a variety of demands a digital euro would need to fulfil, including privacy, security, low costs and ease of use. Before discussing the ECB’s next steps, it’s worth recapping how we got here.