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Preparations for a possible digital euro enter next phase

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Preparations for a possible digital euro will enter their next phase on 1 November 2023. The Governing Council of the European Central Bank (ECB) announced this on 18 October .

Person holds smartphone with 'Digital euro received' written on it, in an urban environment at dusk, depicting digital payment in everyday life.

According to the ECB, this preparation phase will lay the foundations for the possible introduction of a digital euro. It will include finalising the rulebook, which sets out rules and arrangements for banks and other payment service providers. Providers will also be selected to potentially develop the required technical platform and infrastructure, and preparations will be made for a future decision on issuing a digital euro.

Alongside the announcement, the ECB published a report entitled “A stocktake on the digital euro – Summary report on the investigation phase and outlook on the next phase ”.

The ECB website provides detailed information and background on developments concerning a possible digital euro .

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