Italian bank Nexi is reportedly working with the European Central Bank on digital euro as the global race for digitization accelerates. Nexi CEO, Paolo Bertoluzzo, told CNBC in an interview that the bank is "contributing to the design of the future digital euro." He also believes that ECB-regulated digital currency can be a "positive force in the evolution of digital payments."
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"The situation will evolve because clearly there will be more to it. We are starting to talk about a new version of cash. That is the way they think about it," Bertoluzzo.
The Nexi CEO has not clarified on what stage the development is at, though. He also doubted that cryptocurrencies like bitcoin (EXANTE: Bitcoin) or ether (ETH) could play a role in cross-border payments. According to him, the notorious volatility is "exactly the opposite" of what people need in payments.
"Today those types of cryptocurrencies have basically zero impact in payments," Bertoluzzo added.
Earlier in July, the European Central Bank approved an "investigation phase" for its digital euro. The ECB said the phase will last 24 months and focuses on key issues regarding design and distribution. According to ECB President, Christine Lagarde, the regulator carried out further analysis, and sought input from citizens and professionals.
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