MNI BRIEF: ECB Takes Digital Euro To  Preparation Phase

The European Central Bank (ECB) is moving to the next phase of the digital euro project, what it is now calling the preparation phase, as reported by MNI earlier this week (MNI BRIEF: ECB Add Non-MonPol Meeting To Discuss Digital Euro).

The ECB underlined Wednesday that the launch of the preparation phase is not a formal decision on whether to issue a digital euro -- that will only be formally considered by the Governing Council once the European Union’s legislative process has been completed.

With the two-year investigation phase that explored possible design and distribution models for a digital euro now complete, the policymakers agreed on an ECB-designed digital euro that will be widely accessible to citizens and businesses through distribution by supervised intermediaries, such as banks.