Supervised financial intermediaries will handle everything from managing wallets, transactions and anti-money laundering checks for a future digital euro issued by the ecb. iamsandali reports
that"supervised private intermediaries" would be best at providing user-facing services and building new business models, the report published Wednesday outlines the role these entities will play in a digital euro payment system.
Intermediaries supervised by the ECB will function as the"direct counterparts for individuals, merchants and businesses," using the CBDC. "Their responsibilities would include offering user-facing services, such as opening accounts or wallets, payment instruments and onboarding and offboarding, encompassing know-your-customer and anti-money laundering checks. They would also provide devices or interfaces to pay with a digital euro in physical stores, online or person-to-person," the report said.
for selecting U.S. e-commerce giant Amazon to design one of its prototypes. The Eurosystem is the monetary authority of the euro zone, comprising the ECB and the national banks of the 19 countries that use the single currency.
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