Pressure from Facebook may speed up digital euro development – panellists
ECB does not plan to announce whether it will proceed with digital euro proof of concept until mid-2021
The existence of foreign central bank digital currencies (CBDCs) or private sector initiatives may accelerate the development of a digital euro, according to a panel of central bankers.
Austėja Šostakaitė, a market infrastructure expert at the European Central Bank, said the Eurosystem would not consider whether to launch a digital euro project until mid-2021.
“If we see foreign CBDCs, or maybe Facebook coming into the eurozone, that may accelerate things,” said Šostakaitė, who was speaking at
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