ECB chief says digital Euro CBDC will be here by October 2025. Who are the potential winners?

The president of the ECB, Christine Lagarde, put pressure for the digital euro to become a reality by October 2025.

A digital currency of the European Central Bank could soon become a reality. At a press conference on April 17, the president of the European Central Bank Christine Lagarde said that the digital euro could be launched by October 2025.

Lagarde qualified the digital euro, a CBDC which will be issued by the Central Bank of the EU, “of critical importance” and “more imperative now than ever”.

The deadline for us will be in October 25, and we are preparing for this deadline. But we will not be able to move unless the other parties – the stakeholders, as I call them: Commission, Council and Parliament – in fact end the legislative process, without which we cannot move.

While the move has previously Face resistance Member countries, the project has the support of key payment providers, banks and fintech companies. They will probably be the biggest winners if the project takes effect.

Who will be the greatest winners of the digital Euro?

The digital euro is a type of digital currency of the central bank which allows instant payments on its networks. Although similar to cryptocurrencies, it has several important distinctions. On the one hand, payments and portfolios will be under direct control and supervision of the ECB.

This raises confidentiality problems, but also guarantees that the CBDC remains fully in accordance with the regulations. For this reason, banks will be able to use the digital euro in all transactions. In particular, the CEO of Unicredit has already Expressed support For the project and argued that banks should be fully involved.

European fintech companies will also be the probable beneficiaries. On the one hand, Monei is already participating in ECB tests of the digital euro. The company argues that the payments that users make will be faster and more secure.

The system will also allow European Fintech companies to draw from the digital payment market, where they have been lagging behind their American counterparts.