The digital euro is set to arrive by 2029. However, the central bank still has a lot of convincing to do. There is a great deal of skepticism among banks, the general public and politicians. The situation is different in retail. However, according to KPMG Law expert Marc Pussar, developing business models for banks based on the digital euro could prove difficult. In addition, integrating the digital euro into their systems is not trivial. Banks also have to be prepared for challenges when it comes to compliance.
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“Banks must implement strict know-your-customer and anti-money laundering processes and adapt their IT infrastructure to the requirements of the digital euro, which includes high security standards and data protection regulations.”
KPMG Law
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