June 28 (Cointime) - The European Central Bank (ECB) is set to decide on the creation of a digital euro by the end of October, according to ECB President Christine Lagarde. However, Lagarde also stated that widespread adoption of a digital euro is not expected in the near future.

The ECB's stance on the central bank digital currency (CBDC) is described as "accelerated" but no final decision has been made yet. The ECB president emphasized the importance of preserving the value and sovereignty of the euro.

The US Federal Reserve and the Bank of England have also explored the possibility of CBDC adoption, while the New York Fed has experimented with wholesale payments using digital currencies.