Digital euro can ward off a host of private payment service ills: ECB official
Private payment services can gain a monopoly with no benefit to other market players or economic stability, ECB board member Fabio Panetta said.
Private payment services can gain a monopoly with no benefit to other market players or economic stability, ECB board member Fabio Panetta said.
Banco de España deputy governor Margarita Delgado voiced concern about financial stability issues but painted a rosy picture for nonbank financial services providers.
According to Fabio Panetta, the volatility of crypto and aspects of blockchain technology made digital assets only suitable for gambling.
François Villeroy de Galhau tried to soft sell the proposed euro CBDC to commercial bankers, emphasizing collaboration and the CBDC’s advantages.
The European Central Bank exercise looked at a variety of use cases, most of which were quite satisfactory, as well as the use of self-custodied wallets.