Patrick Hansen, the Director of EU Strategy and Policy at stablecoin issuer Circle has shared some key predictions concerning the proposed Central Bank Digital Currency (CBDC) for the European Union. While the CBDC, also dubbed the Digital Euro is yet to be launched, Hansen said should it be launched, it will exist in three different forms.

He gave these predictions following his participation in a roundtable featuring the Digital Euro. As he noted, the CBDC will exist first as a Central Bank alternative to cash and as a tokenized bank deposit. Additionally, the Digital Euro will take the form of a stablecoin or regulated e-money.

According to Hansen, despite the efforts of the government to ensure a proper development of its CBDC, the private sector is better equipped to deliver the much needed payment solution involving stablecoins.

(By Godfrey Benjamin)