Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The European Union is preparing to launch the «digital euro»


June, 29 2023
watermark Economic news

According to media reports, the European Union has developed a legal framework for the issuance of the digital euro. This electronic currency will become an alternative payment solution throughout Europe for legal entities and individuals. The digital euro will also function as an electronic wallet.


The European Central Bank will be the issuer of this currency, which will allow it to guarantee the reliability, value, stability and reputation of the digital euro, as well as the possibility of its exchange for cash. 


It is noted that commercial companies will be required to accept the digital euro. And given the high cost of the new infrastructure at the initial stage, there will be an exception for very small merchants for a while.


Individuals and legal entities will be able to use the digital euro to make payments anytime and anywhere in the eurozone. Electronic currency can be used for Internet payments, as well as for making payments between devices where there is no Internet access. It is worth noting that digital payments can be made without providing personal data.


Access to the digital euro will be provided to EU banks and other payment providers. People who do not have bank accounts will be able to receive electronic money by opening an account at a post office or other government organization.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.