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ECB’s Lagarde: Digital Euro Readiness Hinges on October 2025 Deadline

ECB’s Lagarde: Digital Euro Readiness Hinges on October 2025 Deadline
The European Central Bank (ECB) plans to have preparations for a digital euro finalized by October 2025, pending legislative approval and stakeholder cooperation. The launch of the digital euro could potentially be delayed, as it requires other parties to complete the legislative process. The project aims to be completed by November 2025, focusing on technical designs, legal frameworks, and gathering stakeholder feedback. The digital euro will have retail and wholesale components, with the retail version designed for public use and offering free basic transactions, offline functionality, and privacy protections. The wholesale version will target financial institutions for faster interbank settlements and cross-border payments. The ECB has been testing the digital euro on the Ethereum blockchain and is exploring other blockchain platforms. The need for a digital euro is seen as necessary for maintaining the euro's global standing in the face of China's digital yuan and U.S. stablecoin developments. However, the ultimate launch of the digital euro is dependent on post-2025 legislative approvals.

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