ECB Sets Success Standards for the Digital Euro

European Central Bank issued a new report for establishing success factors for the Digital Euro initiative. The first condition is that the digital Euro should be a medium of payment and value storage and not an investment vehicle for speculative reasons.

The second factor is the “merchant acceptance”, as every digital transaction is accompanied with a service fee. The Digital Euro should the cheaper solution in the market to find a great adoption rate. The third factor is the “money distribution” through the banks and financial institutions, and how fast it can go to citizens and businesses.

The fourth and more crucial factor is the “consumer demand” that will exist from consumers for its use. In parallel, the report suggests measures for managing risks that derive from the initiative.

You can read more on the link below:

https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp211105~08781cb638.en.html