ECB's Board Member: Bank is Studying an Option of Introducing Digital Currency
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Nov. 26, 2019
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A European Central Bank (ECB) board member Benoit Coeure during a conference on Tuesday said the bank is currently "studying the option of introducing a digital currency," Reuters reports.

ECB’s Board Member Reiterates Stablecoins Pose Risk to Monetary Sovereignty

However, Coeure points out the launch of ECB's digital currency would have broader consequences for financial institutions. The ECB's board member believes Europe is at risk of losing "its economic edge."

"Country-specific solutions lack the necessary size and scale, and national fragmentation has paralyzed competition and stifled innovation on the pan-European level," Coeure highlighted.

Previously iHodl reported that the Government of the French Republic warned Facebook's representatives that it will block any development of the Libra stablecoin in Europe.

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