Central Bank of Ireland: "The launch of the digital euro is only a matter of time"

Central Bank of Ireland Governor Gabriel Makhlouf believes that the launch of the digital euro will lead to a "fundamental shift" in the financial architecture of the Eurozone.
Central Bank of Ireland Governor Gabriel Makhlouf said that while the Eurozone has not yet decided on a digital euro, such a development is "very likely."

Central Bank of Ireland: "The launch of the digital euro is only a matter of time"

"In my view, the launch of the digital euro is only a matter of time," Makhlouf said.

At the same time, he praised the potential of the digital euro. Earlier, the Estonian Central Bank also expressed confidence in the potential and scalability of the digital euro after an experiment with several other eurozone central banks.
However, Mahlouf spoke negatively about cryptocurrencies and said that their name is misleading, as they do not fall under the definition of a currency. The chairman of the Central Bank of Ireland compared buying cryptocurrencies to collecting stamps.
He noted that some cryptocurrencies have no basis for stability, but "on the other hand, some people like to collect them just as others like to collect things like stamps. It can be profitable, but it can also be unprofitable."

The chairman of the Central Bank of Ireland also mentioned Stablecoins, saying that their real value depends on the companies that control the provision of fiat currencies for the crypto-asset.
In early summer, one of the top managers of the Central Bank of Ireland, Derville Rowland, said cryptocurrencies have become a "big problem" for the regulator. In March, it became known that the Central Bank of Ireland would require cryptocurrency firms to conduct customer identity checks.
FX24

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