Recurring market commentary on what's happening in the crypto markets, summarized by the Crypto Broker team at Crypto Finance AG.
Market commentary
Good Morning!
Our Market Commentary will be short today, but hopefully it will leave you with some food for thought now heading into the weekend.
ECB and their CBDC project
I have written extensively about the progress of the Chinese Yuan CBDC. The progress and speed on their side is not comparable to the western world. This is fine, since China has different motivations as to why it wants to accelerate this project.
In Europe things are moving much slower. At the moment, the ECB is at the point where it is launching a project that will take 24 months. Their working group has already done some extensive research on technology and concept design. But as always, they will ask everybody about their preferences. Plus, they want to involve and take advice from their merchants and intermediaries.
This will most probably result in endless debates on a not all too sophisticated level, since most of their commercial banks are not even close to figuring out how a CBDC works.
Happy trading!
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