ECB Warns Europe Can’t Wait for Private Solution as Cash Use Plunges – Is CBDC the Answer?

The ECB has finished technical prep for a digital euro, Lagarde has said, as Cipollone has warned cash use fell to 24% of daily transactions by value in 2024. With EU legislation pending, pilots could start mid-2027 and issuance in 2029 if approved this year. He has cited reliance on US card rails, too.

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