The European Central Bank published last Thursday the first results of its study on the digital euro.
The regulator initially planned to conduct the study over the next two years. Its first phase focuses on design and regulatory policy issues.
According to ECB analysts, the greatest use of the digital euro will be in the retail sector. This token will be used by eurozone residents to pay for goods and services.
The report reads:
“The digital euro will retain the role of the state currency as the basis of the payment system in the digital age.”
The central bank is confident CBDCs will be able to coexist with the traditional financial system and can even complement it. In Q1 2023, the European Commission will make a final decision on the feasibility of the token.
