The currency used in the Eurozone is the Euro (€), which facilitates trade and economic stability among member countries of the European Union that have adopted it. Launched in 1999 and introduced in physical form in 2002, the Euro replaced national currencies in many of its participating countries. The Euro is managed by the European Central Bank and is recognized as one of the world's major currencies. Its establishment aimed to improve economic integration within Europe, making transactions easier and fostering a sense of unity among member states.