The ECB is developing a blockchain-based payment system, which could lead to the issuance of a digital euro to improve settlements and economic stability in the eurozone

The European Central Bank (ECB) is launching a project to create a payment system based on blockchain, which could lead to the issuance of a digital euro. The platform will be developed in two stages. In the first stage, the ECB will create a central bank money settlement system connected to the TARGET platform. In the second stage, long-term solutions for blockchain-based settlements will be explored. This project will strengthen the eurozone economy by providing faster and safer digital payments and reducing dependence on foreign payment systems.