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Is a Digital Euro on the Way

Is a Digital Euro on the Way

The European Union will decide this summer whether to launch a digital euro as part of its digitalisation strategy. At the Chamber’s webinar on 29 June, a panel of experts -- speaking from Hong Kong, London and Amsterdam -- shared their insights on the risks and opportunities of the proposed project.

Walter van Hattum, Head of Trade Section E.U. Office to Hong Kong and Macao, discussed how potential risks could be mitigated by strict rules on digital operational resilience. He also explained the E.U.’s ambition to be a global standard setter by outlining clear and comprehensive rules for crypto assets.

He was joined by Marion Laboure, Macro Strategist, Thematic Research at Deutsche Bank London. She briefed participants on how a digital euro could promote financial inclusion and enhance the euro’s international currency status. She also discussed some of the challenges, such as immature technology. Laboure said that she expected it would take around five years to prepare to launch a digital euro, if the European Central Bank decides to go ahead with the project.

Rene van Vlerken, Head of Listing, Managing Board, Euronext Amsterdam, noted that interest in crypto and other digital assets is expected to increase with rising institutional demand. He also discussed the potential of blockchain to manage digital assets.

2021/06/29
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