Fabio Panetta, a member of the executive board of the European Central Bank (ECB), announced the digital euro project was entering its final phase. Before the committee on economic and monetary affairs of the European Parliament, Panetta stated that the digital euro, if approved, would be focused on making payments easier for Europeans.
ECB’s Panetta Explains Digital Euro Payment Focus
Fabio Panetta, a member of the executive board of the European Central Bank, announced that the digital euro project, an initiative that seeks to digitize Europe’s fiat currency, was reaching its final stages of research, and stated that one of the first goals of the project is to establish it as a universal payment method.
In an introductory statement given on April 24 before the committee on economic and monetary affairs of the European Parliament, Panetta explained that there was no single digital means of payment across the European Union. Panetta stated:
We have been investigating the technical
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