European Central Bank creates an advisory group for digital euro

Şükriye Akdeniz

Oct 27, 2021

The European Central Bank continues its digital Euro studies without slowing down, the ECB announced that they have appointed 30 members to the “Digital Euro Market Advisory Group”

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The European Central Bank has appointed an advisory group within the scope of the digital euro project. The team, called the Digital Euro Market Advisory Group, consists of 30 experienced names. Advisory group members include senior executives from organizations such as BBVA, Deutsche Bank, European Payments Council, Societe Generale, IKEA, and Stripe.
The Digital Euro Market Advisory Group will meet every 3 months for 2 years from next month and by its establishment purpose; The central bank will advise the monetary authority of the European Central Bank and other member states' central banks on issues such as issuing and issuing a digital currency (CBDC). Operating as the monetary authority of the Eurozone, the Eurosystem consists of the ECB and the national central banks of the member countries that use the euro.
The ECB has not yet made a clear statement on whether it will issue a digital euro. However, the Central bank said that even if the digital Euro comes out, it cannot replace the Euro.

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