Queen Maxima Of The Netherlands Supports The Launch Of Digital Euro, Here's Why

The Queen of the Netherlands, Melexima Zorreguieta Cerruti, supports digital euros. (photo: twitter @vaninaswchindt)

JAKARTA – The Queen of the Netherlands, Máxima Zorreguieta Cerruti, said she supports the efforts made by the European Central Bank in its efforts to launch a digital euro.

Speaking virtually at a European Commission conference titled towards a legislative framework enabling digital euros for citizens and for businesses, on 7 November, the Queen said the digital euro could promote financial inclusion among underserved communities by circumventing barriers including transaction fees and documentation requirements.

According to the kingdom, a central bank digital currency, or CBDC, in the European Union could help reduce remittance costs, but may require policy reforms and safeguards "to address the difficulties and risks."

“Public sector representatives have a duty to ensure that the financial system is open, inclusive, and responsive to the needs of all groups,” said Queen Maxima as quoted by Cointelegraph. "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 sometimes used her platform to advocate for financial technology as a means of inclusion, particularly citing the CBDC. The Netherlands has operated under a constitutional monarchy since 1814, and the current monarch, King Willem-Alexander, holds a largely symbolic role as President of the State Council of the Kingdom of the Netherlands. Queen Máxima also serves as Special Advisor to the UN Secretary-General on Inclusive Finance for Development.

The Netherlands was the host country for the Bitcoin Amsterdam conference last October, an event that attracted other royals including Prince Philip of Serbia and policymakers including former member of the European Parliament, Nigel Farage.

US-based crypto exchange Coinbase also announced its expansion into the Netherlands following regulatory approval from the country's central bank in September.