An electronic equivalent of banknotes and coins, the digital euro will likely be a digital wallet that euro zone citizens can keep at the ECB. Here's what we know so far:WHAT IS A DIGITAL EURO? Work on a digital euro accelerated after Facebook unveiled plans to create its own currency in 2019, a potential threat to central banks' core business. It will also seek legislative changes, as a digital euro was not foreseen by EU treaties. If other central banks launch digital currencies, however, payments to and from the euro zone could become cheaper and safer.

Source: The Star July 14, 2021 00:11 UTC