The European Central Bank (ECB) has once again opened the door to some form of private-sector collaboration as it “intensifies” its work on the digital euro – a central bank digital currency (CBDC) for Eurozone nations.
Per an official release, the ECB, the bank’s Governing Council has declared that it and fellow Eurosystem (central bank of euro-adopted nations) members have been “intensifying its work on the potential issuance of a digital euro.”
And the ECB added,
“This does not, however, imply any intention to crowd out the private sector’s role in providing payment services. Moreover, supervised private intermediaries would be best placed to provide front-end solutions and ancillary services and to build new business models based on a digital euro, should such a construct be introduced.”
The move comes just weeks after ECB president Christine Lagarde declared that a “properly designed digital euro would create synergies with the payments industry,” adding that to do so would “enable the private sector to build new businesses based on digital euro-related services.”