Fiat-backed EUROe joins the growing list of stablecoin offerings that have received regulatory approval from EU authorities.
Euro News
The euro is the official currency for the 19 European countries of the Eurozone, along with another nine countries. The euro is the main competitor of the dollar and it has a leading position of being the one of the major reserve currencies. European banks use euro to raise funds in order to secure their core business. This fact makes the euro a funding currency. In terms of cryptocurrency, the euro is used as frequently as the dollar for conversion into digital currency and vice versa, that can be seen for the most popular requests in the Internet such as Euro to Bitcoin, Satoshi in Euro and so on. Besides that, the euro and blockchain technologies are connected, as many investments into these technologies are made in euro by European investors.
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ECB board member Fabio Panetta affirms the ECB’s digital euro privacy policy and says the digital currency will never be programmable, but it may have an app.
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To use the tokens, users will need to verify their identity through phone and video identification, and load their wallet with real euros.
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BoE governor Andrew Bailey highlighted that the UK already has a wholesale settlement system with a major upgrade.
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The Eurogroup confirmed its support for digital euro research and noted that some of the design and use elements under consideration would require political decision making.
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Europol and Eurojust, two EU agencies for law enforcement cooperation, joined authorities from Bulgaria, Cyprus, Germany and Serbia to investigate online investment fraud since June 2022.
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The ECB is continuing its digital euro investigation with more pieces of the potential system filled in, but no commitment to blockchain technology or even its issuance has been made.
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“Let us envision that better future and build a digital euro that works for all Europeans,” said the queen in virtually addressing members of the European Commission.
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The crypto industry is coming to save the troubled “Euro-Skulptur” monument in Frankfurt after traditional banks refused to support the symbol of eurozone decision-making.
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The five fintech, payments and e-commerce firms will create front-end prototypes for the digital euro, which will not be used in later phases of the CBDC project.
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First announced on Aug. 4, the euro-denominated Ether futures represent investment vehicles launched prior to the blockchain's transition to proof-of-stake.
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Bitcoin struggles to make a return to higher levels despite geopolitical uncertainty striking the Eurozone.
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The futures options, expected to start trading on Aug. 29, followed the CME Group launching micro-sized Bitcoin and Ether options in March.
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ECB’s interest in identifying the best cross-border payment solution stems from the fact that it serves as the central bank of the 19 European Union countries which have adopted the euro.
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Estimates for July inflation across the euro area make for grim reading at 8.9%, with the U.S. dollar rebounding.
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