Digital Euro Launch Roadmap

planned

European Union finance ministers agreed on a roadmap for launching a digital euro currency, which aims to become an alternative to U.S.-based Visa and Mastercard payment systems. The digital euro is an electronic wallet backed by the European Central Bank (ECB) and is intended to reduce Europe's reliance on foreign payment systems and enhance European sovereignty in finance. The roadmap includes giving EU finance ministers a say on the issuance and holding limits of the digital euro, with legislation expected by June and a launch timeline of around two-and-a-half to three years thereafter.