EU to launch wholesale CBDC in coming weeks

Odaily Planet Daily News The President of the Bank of France said today that the European Central Bank will formulate a plan for wholesale CBDC in the next few weeks. The project aims to seek to innovate the way financial institutions settle securities and foreign exchange transactions. Wholesale CBDC is progressing faster than personal use of the digital euro. “The Eurosystem has begun exploring new technologies for CBDC, including the issuance of the first tokenized CBDC. Eligibility criteria will be announced in the coming weeks and experiments will be launched next year, including trials with real transactions.” Access to the network and smart contracts will allow central banks to continue to manage the economy’s money supply, which central bankers see as core to their mission to manage inflation and financial stability. (coindesk)