The European Union is voting to create a digital euro, a virtual currency designed to reduce dependence on US payment systems currently handling nearly two-thirds of eurozone card transactions. The initiative addresses European tech sovereignty concerns and represents a fundamental shift in digital payment infrastructure that could reshape how developers and fintech companies operate. If approved by year-end, the system could launch by 2029, though banks are resisting due to implementation costs estimated between 4 and 18 billion euros.
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Ali NematiWritten by Ali
