Digital euro set for launch as EU challenges Visa and Mastercard | IDNFinancials

The EU has entered final negotiations on digital euro legislation, with ECB formal approval expected January 2027 and public launch in 2029 following a pilot with 40 banks. The central bank-issued digital currency aims to reduce EU dependence on US payment providers like Visa and Mastercard, with free consumer access, capped individual holdings (EUR 3,000 proposed), and mandatory merchant acceptance.

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