Queen Máxima of the Netherlands speaks out in favor of the digital euro

"Let's envision that better future and build a digital euro that works for all Europeans," the Queen said while addressing members virtually of the European Union commission.

Máxima Zorreguieta Cerruti, Queen of the Netherlands, said she was encouraged by the work done by the European Central Bank in its efforts to launch a digital euro.

Speaking virtually at a European Commission conference 'towards a legislative framework enabling a digital euro for citizens and businesses' on November 7, the Queen said a digital euro could boost inclusion among underserved communities by bypassing barriers, including transaction fees and documentation requirements. According to the Regent, a central bank digital currency, or CBDC, in the European Union could help reduce the cost of sending remittances, but may require policy reforms and safeguards "to address challenges and risks".

“Public sector officials have a duty to ensure that the financial system is open, inclusive and responsive to the needs of all groups,” the Queen said. "So let's imagine that better future and build a digital euro that works for all Europeans."

As Queen Consort of the Netherlands since 2013, Máxima has at times used her platform to champion fintech as a means of inclusion, specifically citing CBDCs. The Netherlands has operated under a constitutional monarchy since 1814, with the monarch – in this case King Willem-Alexander – largely playing a symbolic role as president of the country's Council of State. Queen Máxima also serves as Secretary of the United Nations...