TechFlow news — On February 21, according to Cointelegraph, the European Central Bank (ECB) is expanding its development efforts on a central bank digital currency (CBDC) payment system.
The project will proceed in two phases: the first phase involves developing a CBDC settlement platform, while the second phase will focus on deep integration with the ECB's existing systems, such as foreign exchange trading markets.
Piero Cipollone, a member of the Executive Board of the European Central Bank, stated that the initiative aims to build a more coordinated and integrated European financial ecosystem.
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