Speaking to Les Echos, Fabio Panetta, a member of the ECB’s Executive Board, said that the digital euro could be in circulation in three or four years, but that banknotes would be available as long as there is demand for them.
According to Reuters, in order to make the digital euro interoperable with other central bank digital currencies, the ECB is working closely with the central banks of the United States, Britain, Switzerland, Canada, Japan and Sweden.
“We are at a preliminary stage where we are making comparisons in terms of our progress,” Panetta said in an interview published on the ECB’s website on Wednesday, adding that more work was needed.
“While interoperability is desirable, different national rules on confidentiality would make it more difficult,” he added.
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