The European Union is moving closer to creating a digital euro as an alternative payment system for Europeans. But why are lawmakers so keen to create a virtual currency and how would it work for EU residents?

BRUSSELS: The European Union (EU) believes a digital euro is the answer to cutting its addiction to United States payment systems like Visa and Mastercard, as well as Apple Pay…

The EU believes a digital euro is the answer to cutting its addiction to U.S. payment systems like Visa and Mastercard as well as Apple Pay and Google Pay as the bloc seeks to…