Instant payments crucial to stop crypto disruption – Mersch

ECB board member reiterates concerns around viability of crypto-currencies

Yves Mersch
Yves Mersch

A board member of the European Central Bank has stressed the importance of instant payment systems with regard to combating the disruption caused by virtual currencies.

“Banks need to implement instant payments as soon as possible and provide an alternative narrative to the ongoing public debate on alleged innovation brought by virtual currency schemes,” said Yves Mersch in a speech in Rome on November 30.

Such an effort is already under way with the European Central Bank’s Target instant

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