The European Central Bank has appointed an Advisory Group on the digital euro project

This organization will develop recommendations for the bank to increase the value of the CBDC offer

28.10.2021 - 12:25

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What's new? The European Central Bank (ECB) has announced the appointment of an Advisory Group for the creation of the CBDC project.

Press release on the ECB website

Who joined the Advisory Group? Among the selected professionals are members of European banking and economic institutions such as Société Générale, Nordea, Intesa Sanpaolo, Swedbank, La Banque Postale and Deutsche Bank. Roberto Catanzaro from Nexi Group, the company that contributed to the development of the digital euro, is also on the board.

What will the Advisory Group do? According to the bank's statement, the 30 members of the advisory group will give recommendations to the ECB on the principles of implementing the digital euro and how to meet the needs of different sectors of the Eurozone. Experts will consider the sphere of payments especially carefully. The Euro Retail Payments Board, an institutional forum where retail payments are discussed, will consider the issues identified in the group meetings.

What does the bank’s representative say? ECB Board Member Fabio Panetta commented on the situation:

“I am pleased that many high-quality experts from the private sector are willing to contribute to the digital euro project. Their expertise will facilitate the integration of prospective users’ and distributors’ views on a digital euro during the investigation phase.”

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