Netherlands central bank supports a digital Euro

posted 7 months ago
The Netherlands central bank, De Nederlandsche Bank (DNB), released a central bank digital currency report stating that it is supportive of a central bank digital currency. Potential benefits of a central bank digital currency include cost and speed efficiencies in cross-border payments between citizens and states.

It stated that a CBDC “could serve as a backup to payments made in private money, considering that we become exceedingly dependent on private money in a rapidly digitizing payment system.” It also noted that the COVID-19 pandemic is accelerating a global decline in the use of physical cash. The bank is ready to proceed with CBDC research and development, including a “broad debate across the euro area.”
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