FRANKFURT (Reuters) – The European Central Financial institution could kick off the event of its digital euro, an digital model of banknotes and cash, by the tip of subsequent 12 months, ECB board member Fabio Panetta stated on Monday.

“Lastly, on the finish of 2023 we may resolve to begin a realisation part to develop and take a look at the suitable technical options and enterprise preparations mandatory to offer a digital euro,” Panetta stated. “This part may take three years.”