Euro

ECB Deepens Analysis of Digital Euro, Decision Expected by Mid-Year, VP Confirms

<div class=”featured_image_container”> </div> <strong>Faced with challenges on many fronts, the European Central Bank is now deepening the analysis of how to digitalize its currency. A decision on whether to issue a digital euro, which has the potential to become a major CBDC, is expected around mid-2021, a high-ranking official of the central bank has confirmed. …

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The Global Economy Comes Before Savers: ECB President Christine Lagarde Defends Negative Interest Rates

<div class=”featured_image_container”> </div> <strong>The European Central Bank President Christine Lagarde is keeping the central bank’s monetary easing policies unchanged according to her statements from a press conference last Thursday. Moreover, the central bank’s Twitter account recently shared a video of Lagarde defending negative interest rates, as the bank’s President stresses that they “support companies and …

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European Central Bank releases results of digital euro consultation

The European Central Bank has published the results of a public consultation on a potential digital euro as the institution inches closer to deciding whether to formally study such an initiative.  According to a Wednesday announcement, the ECB received more than 8,200 responses to its public digital euro consultation — a personal record for the bank regarding …

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European Investment Bank reportedly to issue bonds with blockchain tech

The European Investment Bank, an international financial institution owned by European Union member states, is reportedly exploring blockchain technology for issuing digital bonds. According to a Tuesday Bloomberg report, the EIB has hired major global banks like Goldman Sachs, Banco Santander and Societe Generale to look at a potential deal involving a euro-denominated bond issued …

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French retail giant will launch Tezos-based stablecoin

Groupe Casino, a 120-year-old retail company headquartered in France, will reportedly be launching a stablecoin pegged to the Euro. According to journalist Grégory Raymond, the French retail giant will be launching the stablecoin to use in its stores’ loyalty programs as well as for trading. Groupe Casino oversees more than 11,000 stores in France and …

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As Millions Drown in Today’s Poverty Trap, Macro Strategist Raoul Pal Says ‘Bitcoin Is a Life Raft’

<div class=”featured_image_container”> </div> <strong>Global Macro Investor CEO, Raoul Pal, discussed the current economy this week and asked his 394,000 followers if people are using the wrong denominator when it comes to certain economic factors. One thing’s for certain, wages have not increased, no matter the common denominator people use to measure today’s salaries. Pal wholeheartedly …

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German Cannabis Firm Hedges Bitcoin to Protect from Massive Currency Devaluation

<div class=”featured_image_container”> </div> <strong>On Tuesday, the cannabis firm Synbiotic SE, a publicly-traded company in Germany that’s listed on the Frankfurt Stock Exchange and Xetra, has announced it is leveraging bitcoin to hedge against the euro. Synbiotic’s chief executive officer, Lars Müller explained that the company decided to hedge with the leading crypto asset in order …

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EU Seeks to Curb Reliance on US Dollar After American Sanctions Exposed Financial Infrastructure Vulnerabilities

<div class=”featured_image_container”> </div> <strong>The European Union (EU) is reportedly planning to reduce its reliance on the U.S. dollar-based financial system, after American sanctions on Iran exposed the vulnerabilities of the bloc’s financial infrastructure. According to officials, who are now determined to challenge the dollar’s supremacy, the renewed desire to boost the role of the euro …

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Spanish Municipality Creates Its Own Cryptocurrency to Boost Economy Hurt by Coronavirus Crisis

<div class=”featured_image_container”> </div> <strong>A municipality in the province of Sevilla, Spain, has launched its own cryptocurrency, which aims to encourage residents and merchants to arrange transactions with it in the midst of the coronavirus-driven economic impact.</strong> Spain’s Sevilla Municipality Launches ‘Elio’ Cryptocurrency to Boost Local Economy According to Europa Press, the City Council of Lebrija …

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EURST Stablecoin – The Cost of Answering the Call of the Economic Times

<div class=”featured_image_container”> </div> <strong>The technological developments brought about by the invention of blockchain, bitcoin, and cryptocurrencies are rapidly transforming the financial landscape with the nascent industry failing to fit any conventional classification to become an asset class of its own. </strong> Stablecoins Are the Solution Tumultuous as it was in its journey towards the mainstream, …

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