ECB starts 'preparation' for digital euro

The European Central Bank took a further step on Wednesday towards launching a digital version of the euro that would let people in the 20 countries that share the single currency make electronic payments free of charge and securely.

"The next phase of the digital euro project - the preparation phase - will start on 1 November 2023 and will initially last two years," the ECB said, adding it would involve some "testing and experimentation".