The Digital Programmable Euro, Libra and CBDC: Implications for European Banks
Weekly Newsletter Sep.28
This paper reviews how European banks will be affected and respond as the rise of digital currencies continue to disrupt existing payment systems.
The effect has become more significant as stablecoins become more popular and the central banks themselves seek to issue a CBDC. Here, 50 experts are interviewed to gather a better sense of the magnitude, with a focus on the digital programmable Euro, through Facebook’s Libra and CBDCs. The research indicates that either one will have a massive effect on European banks, though the great risk also comes with great opportunity if they were to embrace the technology.