Digital Euro Would Provide Alternative to Cryptos, ECB President Lagarde Says
A digital euro for retail payments would "ensure that sovereign money remains at the core of European payment systems," according to Lagarde.
Bitcoin's rising price reflects declining faith in the existing financial system. Will central bankers like Christine Lagarde take notice?
In a speech at a Reuters online event Wednesday, Lagarde said bitcoin was a "highly speculative" asset.
In an interview with Bloomberg Wednesday, Lagarde said the digital euro will be rolled out within four years.
Stablecoins could "threaten financial security" if widely adopted, the ECB head said in a magazine interview.
The survey indicates a much more profound change in the way finance works is being contemplated.
European Central Bank President Christine Lagarde said a digital euro can place the region at the cutting edge of innovation but it may have fallen behind in the global competition for creating digital payment ecosystems.