ECB takes first step in long march to digital euro

FILE PHOTO: Workers maintain the huge Euro logo in front of the headquarters of the European Central Bank (ECB) in Frankfurt, December 6, 2011. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) -The European Central Bank took a first step on Wednesday towards launching a digital version of the euro, part of a global drive to meet growing demand for electronic means of payment and tackle a boom in cryptocurrencies.

An electronic equivalent of banknotes and coins, the digital euro will likely be similar to an account that euro zone citizens can keep at the ECB rather than a commercial bank.