The president of the European Central Bank ( ECB ) Supports the Cryptocurrency Diterapken at the Central Bank ( CBDC ) to cope with the demand of payment across borders faster and cheaper.
Do not act as an observer of a changing world
When asked about the devotion of the ECB for the exploration and development of the CBDC, Lagarde stressed the urgent demand for payment quick and low-cost , a field in which he is seen taking a leading position, not as the observer is left of the world changed. Therefore, Lagarde said:
“The ECB will continue to assess the costs and benefits of the issuance of the cryptocurrency in the central bank which will ensure that the general public can still use the central bank money even if the use of physical cash in the end decrease.”
Lagarde given that the bank continues to examine the feasibility and benefits of CBDC as a means of payment because it can affect the financial sector and monetary policy transmission. He determined that the european central bank was formed to jointly work together with the national central banks to examine the feasibility of the euro area CBDC.
Friendly approach to cryptocurrency
Lagarde has previously showed friendly attitude towards cryptocurrency, after saying in December last year that the ECB should be in front of the demand for stablecoin.
Last September, when Lagarde was still the head of the International Monetary Fund (IMF) and a candidate to become the ECB president next, he claims that he will focus on ensuring that the institutions to immediately adapt to the financial environment is changing rapidly.