European Union: Launched European Central Bank preparation phase for the Digital Euro

On 1 November 2023, the European Central Bank (ECB) launched the preparation phase for the Digital Euro. The objective of the phase is to establish a rulebook and select providers that could develop a digital euro platform and infrastructure. The preparation phase aims to develop a digital euro that meets the requirements of the Eurosystem and the users' preferences, including user experience, data protection, financial inclusion, and environmental impact. The phase will last two years.