The European Central Bank (ECB) plans to launch a central bank digital currency (CBDC), known as the digital euro, by October 2025. ECB President Christine Lagarde emphasized that the governing council must decide soon whether to proceed with the initiative. The ECB estimates that the digital euro will replace five out of every ten euros currently in cash circulation. Lagarde has called for swift legislative action to establish the necessary legal framework, highlighting the digital euro's importance for the European Union's competitiveness and economic resilience. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io