ECB Allocates Over One Billion Euros for Digital Euro Launch by October 2025, Lagarde Seeks to Reduce Reliance on Visa and Mastercard

The European Central Bank (ECB) is advancing plans to launch a digital euro by October 2025, with President Christine Lagarde confirming the decision timeline. The ECB has allocated over one billion euros to develop the digital currency, signaling a strategic move toward digital money as a cornerstone of future financial stability. This initiative aligns with broader European efforts to reduce reliance on U.S.-based payment systems such as Visa, Mastercard, PayPal, and Alipay, aiming to establish greater European control over financial infrastructure. The digital euro is part of the ECB's vision to modernize the monetary system, although it has sparked debate regarding the implications for cash usage and financial freedom. The European Union already operates the MIR payment system, which further underscores its intent to create a sovereign financial ecosystem.

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