ECB Establishes Innovation Hub to Test Digital Euro as Preparation Phase Nears End

The European Central Bank (ECB) has launched an innovation hub with 70 participants, including banks and tech firms like Accenture and KPMG, to test its digital euro project. This initiative aims to explore payment functionalities and use cases for a central bank digital currency (CBDC). ECB President Christine Lagarde indicated that testing will conclude by October, with a decision on issuing the digital euro expected after new legislation is enacted. This project represents a significant step towards modernizing Europe's payment systems. To learn more, read the full article linked above. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk