As European Central Bank officials prepare to release an assessment of the benefits and drawbacks of creating a digital version of the euro, the ECB has applied to trademark the term ‘Digital Euro’.
The application was filed on September 22, 2020 by the ECB’s legal representatives Bock Legal; Bloomberg cited the website of the European Union Intellectual Property Office. Central banks across the globe have been experimenting with digital versions of their currencies, as to adapt to digitising economies.
ECB policy makers have recently stressed the need to stay on top of global changes in payments, both due to evolving technology and an increase in protectionism. A team of experts from across euro-area central banks is due to publish an assessment soon. ECB President Christine Lagarde has repeatedly talked about the topic and said in an address to the European Parliament that a public consultation will be launched within days.
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