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Digital euro

A digital euro would be a digital form of cash, issued by the central bank and available to everyone in the euro area.

We are working with the national central banks of the euro area to look into the possible issuance of a digital euro. It would be a central bank digital currency, an electronic equivalent to cash. And it would complement banknotes and coins, giving people an additional choice about how to pay.

Digital euro

Central bank money in digital form, available for any electronic payments in shops, online or from person to person.

What you need to know

What would a digital euro be?

A digital euro would be an electronic means of payment available free of charge to everyone. Like cash today, you could use it anywhere in the euro area, and it would be secure and private. In our increasingly digitalised society, a digital euro would be the next step forward for our single currency.

What would it be?
Why do we need a digital euro?

Currently, there is no European digital payment option that covers the entire euro area, with 13 out of 20 countries reliant on international card schemes for card payments. A digital euro would be a European electronic means of payment accessible and accepted in all euro area countries.

Why do we need it?
How would a digital euro work?

A digital euro would be stored in an electronic wallet set up with your bank or with a public intermediary. This would allow you to make all your usual electronic payments – in your local store, online, to a friend – with your phone or card, online and offline.

How would it work?
What stage are we at now?

The preparation phase, which started in November 2023, focuses on further preparing for a potential development of a digital euro. It builds on the findings from our investigation phase.

Next steps

Frequently Asked Questions

How would a digital euro help me? How would a digital euro be different from stablecoins and crypto-assets? Would a digital euro guarantee user privacy? Would a digital euro replace cash? Check out the answers to common questions here.

Progress on a digital euro

Find out about the progress made during the first part of the digital euro project's preparation phase, which was launched in November 2023.

Cooperation with stakeholders

Extensive cooperation with market actors and legislators will ensure that a digital euro meets users’ needs. This is why we are launching a set of initiatives to engage with as many stakeholders as possible.

Stakeholder engagement
Documents and research

The digital euro project is supported by extensive documentation and detailed analyses of the work taking place. Use our dedicated documents and research page to read up on topics that interest you.

Dive deeper

A digital euro in relation to...

... privacy

With a digital euro, we would be offering people and businesses in the euro area a payment solution with the highest privacy standards. The ECB and the Eurosystem would not be able to identify who you are or what you are buying from the payment data we get.

Read more about the digital euro and privacy

… crypto-assets

As a digital euro would be backed by a central bank, it would not be a crypto-asset. Central banks have a mandate to maintain the value of money, whether it is physical or digital. Crypto-assets are not backed or managed by any central institution and there is no guarantee that you can exchange them for cash when you need to.

What's the difference?

… investments

A digital euro would be designed as a means of payment rather than an instrument for financial investments. We are examining this issue carefully to avoid negative consequences for the financial sector. The digital euro should be a public good that would benefit the economy and society as a whole.

Digital euro: Debunking banks’ fears about losing deposits

… pan-European payments

We have set out a comprehensive payments strategy for the digital age. We aim to ensure European payments are supported by a competitive and innovative market capable of meeting consumer demands while preserving European sovereignty.

Our retail payments strategy

The ECB Podcast

A digital euro: what, why, when? (part 1 & 2)

Do we need a digital euro, and why? What might it look like? And how would it differ from other means of payment? Our host Katie Ranger puts these questions to digital euro expert Evelien Witlox.

Listen to the podcast episodes

The digital euro, demystified

We are preparing for the possibility of issuing a digital euro. This is fuelling a lot of interest − and misconceptions – despite the fact that no decision has yet been taken. Our host Stefania Secola and digital euro project head Evelien Witlox debunk some myths.

Listen to the podcast episode

Beware of fraud

We are aware of emails and fake websites soliciting people to invest in the digital euro. This is a scam. We never ask people for investments, money or personal information. If you think you have fallen victim to fraud, contact your local police.

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