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The European Central Bank has announced the appointment of the Digital Euro Market Advisory Group. This organization will give council to the bank in terms of how they can add value to the proposal of a central bank digital currency. The ECB called for parties to express their interest in joining the group in June, and the bank filtered and selected the most experienced applicants. Of the individuals that applied, the ECB selected 30 senior business professionals.
Among the selected are members of known banking and economic institutions in Europe.
Among the selected are members of known banking and economic institutions in Europe like Societe Generale, Nordea, Intesa Sanpaolo, Swedbank, La Banque Postale, and Deutsche Bank. Roberto Catanzaro of the Nexi Group, a company that revealed it was involved in the design phases of the digital euro, is also part of the council. The group will host meetings at least quarterly, starting next month.
ECB Board Member Fabio Panetta stated, “I am pleased that many high-quality experts from the private sector are willing to contribute to the digital euro project. Their expertise will facilitate the integration of prospective users’ and distributors’ views on a digital euro during the investigation phase.”
The 30 members advisory group will advise the ECB on the digital euro.
According to the statement, the 30 members of the advisory group will advise the ECB about the proposal and how it can be modified to better resolve the needs of the different sectors in the Eurozone. The payments area will also be specially considered, as issues identified as a result of these group meetings will be elevated to the Euro Retail Payments Board, an institutional forum that discusses retail payments.
