Finland commits to instant payments system, embraces digital euro

The Bank of Finland (BOF) is coordinating the creation of a Finnish instant payment solution that complies with European standards. Tuomas Välimäki, BOF board member and member of the European Central Bank (ECB) Governing Council, said: “The possible launch of a digital euro would give consumers the option to pay in central bank currency wherever electronic payments are accepted.” Välimäki said that the Bank of Finland and the European Payments Council are also involved in the creation of real-time payments solutions in Finland. The payment solution will be based on credit transfers and will not rely on payment card platforms. (Cointelegraph)