The European Central Bank plans to introduce a digital euro to ensure the euro zone’s monetary sovereignty and strengthen its position in the global economy. The digital euro will offer retail transactions infrastructure, countering the rise of stablecoins pegged to the U.S. dollar. The ECB aims to provide both wholesale and retail payment services, keeping commercial banks central to the payment system.

Read more at Yahoo Finance: Digital euro to provide retail payments backbone Europe needs, ECB’s Cipollone says