The digital euro is coming. The decision to introduce it is due to be made this year. In , our new publication series for the banking sector, we take a look at security aspects, the wholesale euro for interbank transactions and the points of contact with core banking functions, among other things.
The focus of the first issue is the digital euro. The topics at a glance:
A digital money ecosystem: an opportunity for banks
We shed light on how a new ecosystem of digital forms of money is developing and what role banks are playing in this. Digital money will make the financial market more inclusive and facilitate access for new players with innovative ideas. This dynamic environment challenges banks to remain flexible, promote innovative approaches and enter into new partnerships. A major task, but also a unique opportunity.
Technical implementation: data protection and confidentiality
A future digital euro system should be able to process payments in real time and be characterised by a high level of resilience to disruptions. For banks, this also means that they will have to adapt their IT architecture in order to fulfil the high data protection and security requirements. However, the final decision on the technology that will be used here has yet to be made.
Dr. Matthias Mayer
Partner, Financial Services, FS Chief Solution Officer and Chief Markets Officer
乐鱼（Leyu）体育官网 AG Wirtschaftspr眉fungsgesellschaft
Legal implications: Detailed regulations are still lacking
The introduction of the digital currency affects banks' core functions such as compliance, regulation, risk management and treasury. However, there is currently still a lack of detailed rules and regulations from the European Central Bank that financial institutions need for concrete planning and implementation. Nevertheless, banks should consider the potential legal implications of the digital euro at an early stage.
Digital wholesale euro
The digital wholesale euro (wCBDC), a digital currency for the wholesale sector, was developed by the European Central Bank in cooperation with national central banks. The focus is on the processing of payments and transactions between institutions. It is to be used in a closed system that is not accessible to end consumers.
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