ECB’s Christine Lagarde Says Digital Euro Should Launch Within Four Years: Report

In an interview with Bloomberg Wednesday, Lagarde said the digital euro will be rolled out within four years.

AccessTimeIconMar 31, 2021 at 12:35 p.m. UTC
Updated Sep 14, 2021 at 12:34 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

European Central Bank (ECB) President Christine Lagarde says the digital euro will be launched in the middle of this decade.

  • In an interview with Bloomberg on Wednesday, Lagarde said if ECB policy makers give the digital currency project the green light this summer then the digital currency will be rolled out within four years.
  • “We need to make sure that we do it right. We owe it to the Europeans. The whole process, let's be realistic about it, will in my view take another four years, maybe a little more,” said Lagarde.
  • In January, the European Commission and the ECB teamed up to consider potential issues that could arise from the digital euro before a decision is made to kick off development this summer.
  • The ECB said it will release the feedback on the potential launch of the digital currency from a public consultation in which 8,000 participants responded.
  • This will be sent to the European Parliament and then the ECB’s decision-making Governing Council to decide whether to move forward with its practical experimentation of the digital euro.
  • In March the Central Bank of the Bahamas started the rollout of its digital currency dubbed the “Sand Dollar,” which the ECB will be closely monitoring. 

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.