Digital Euro by 2025: Here\'s How Countries Are Doing With Their CBDCs
The race to develop and implement Central Bank Digital Currencies (CBDCs) is heating up globally. With a new high of 44 ongoing CBDC pilots, including the digital euro, many nations are actively exploring the potential benefits and challenges of this new form of electronic money.
The Digital Euro: On Track for 2025?
The European Central Bank (ECB) is at the forefront, actively pursuing the digital euro project. This process is essential to ensure that the Digital Euro is both technically sound and socially accepted. The ECB has established an innovation platform to collaborate with European stakeholders in the context of the digital euro project. Almost 70 countries are working on CBDCs, but the digital euro is one of the most closely watched.
Key Aspects of the Digital Euro Project:
- Rulebook Development: Defining the operational framework for the digital euro. Here are a few highlights from the ongoing work: 1. A rulebook
CBDC Tracker: Your Global CBDC Information Resource
Stay informed with the CBDC Tracker, an information resource for CBDC with news, updates and technology information. Central Bank Digital Currencies are a new form of electronic money that, unlike cryptocurrencies, are issued and regulated by a central bank.
Global CBDC Developments: A Snapshot
While the digital euro dominates headlines in Europe, other countries are making significant strides in their own CBDC initiatives. All three countries are focused on expanding the reach of their retail CBDCs domestically.
The coming years will be crucial in determining the future of CBDCs and their impact on the global financial landscape. Keep checking back for updates as we track the progress of the digital euro and other CBDC projects worldwide.