Currency innovations

26.03.2021

The EU summit called for strengthening the international role of the European currency and supported the creation of a digital euro.

"The Summit called for strengthening and creating a more innovative financial sector, more efficient and sustainable payment systems. In this context, preparatory work should continue to explore the possibility of launching a digital euro, " according to the final statement of the summit on the development of the euro area issued by Brussels.

The strengthening of the euro's international role contributes to the EU's strategic autonomy in economic and financial matters, the statement said. The European Union intends to "fully develop and strengthen euro-denominated financial markets", increasing its own financial stability. To implement these plans, the EU needs a rapid and effective recovery from the pandemic.

On Wednesday, March 24, the automotive company Tesla added bitcoin payment for its products.

"You can now buy a Tesla with Bitcoin," Elon Musk wrote on his Twitter account.

While this payment method is only available to US customers, it will be introduced in other countries later this year.

"Tesla will not convert bitcoins received as payment into fiat currency," Musk said.

Earlier, the head of the corporation stated that the actions of Tesla do not directly reflect his opinion, because he considers bitcoin "simply a less stupid form of liquidity than savings".


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