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The Bank of Spain welcomes the “digital euro” and outlines its advantages

The digital euro is poised to revolutionize electronic payments, becoming an indispensable cornerstone of the financial landscape. In a resounding chorus, Banco de España, the central bank of Spain, joins its European counterparts in acquainting their clientele with the myriad advantages of a digital euro. On October 19, this venerable institution disseminated a concise discourse elucidating the essence and utility of the European Union’s prospective central bank digital currency (CBDC). The central bank contends that physical cash, in its traditional form, falls short in harnessing the full spectrum of benefits arising from the expanding digitalization of our economy and society.

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