According to CoinDesk, according to the minutes of the meeting published on Thursday, the European Central Bank stated at the first meeting on new wholesale settlement technologies that it will begin exploring financial market settlement work based on distributed ledger technology (DLT) from 2024. The European Central Bank is studying how to innovate in the settlement of securities or foreign exchange transactions between financial institutions, and is also developing plans for a retail central bank digital currency (CBDC) (i.e., a digital euro) that can be used by EU citizens.
The ECB said it expects to start exploratory work in 2024 to test the use of central bank money in real and simulated wholesale transactions.