May 20, 2022

The Queens County Citizen

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Accelerates the adoption of pandemic digital currency: ECB President

Accelerates the adoption of pandemic digital currency: ECB President

Christine Lagarde, president of the European Central Bank (ECB), said the pandemic was a growing number of consumers adopting digital payments and the trend was accelerating.

She noted that a team of Euro-Zone Central Bank officials was ready to urgently announce the verdict on the European Central Bank Digital Currency (CBDC).

Speaking at an online conference hosted by Deutsche Bundesbank on September 10, Lagarde Mentioned EU residents embrace digitization, e-commerce sales increase by about 20% between February and June, including total retail sales Rejected 1.2%. She said the size of online payments has experienced “double-digit growth rates” since the outbreak began.

“The pandemic has acted as a catalyst, accelerating the transition from digital to the new general direction,” Lagarde noted. “Most consumers expect to continue to use digital services now or more.”

Other companies came to the same conclusion as the data came in relation to the financial collapse of COVID. August report from DBS Bank of Singapore Mentioned “The ongoing epidemic has fueled a move towards a less cash-dependent society.”

Lagarde supports the ECB Developing CBDC In addition to border payments, to address the move towards digitization. Last September, when she was head of the International Monetary Fund (IMF), the ECB president said she would focus on reassurance. EU companies are in line To the changing financial climate by opening up to crypto.

“The eurosystem has not yet decided whether to introduce the digital euro,” Lagarde said.

“But, like many other central banks in the world, we are exploring the benefits, risks and operational challenges of doing so.”

According to the ECB President, the results of a taskforce study the potential effects of a CBDC on Europe Will be announced “in the coming weeks”.

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