European Central Bank to launch 'Pontes': digital euros made for banks

Christine Lagarde, president of the European Central Bank (ECB), announced that the ECB will launch 'Pontes', a new digital euro made for banks, during a press conference at an informal meeting of ministers responsible for Economic and Financial Affairs Council in Ireland's capital, Dublin.

The digital euro is to ensure banks can transact amongst themselves using tokenized assets and distributed ledger technology. Ms. Lagarde expressed her hopes to see its completion and finalization before the end of this year.