Digital euro (official page)

Cash isn’t going anywhere — we are standing firmly behind it. In the latest ECB podcast, Executive Board member Piero Cipollone explains the critical role of cash in guaranteeing access to payment systems for everyone, especially the most vulnerable in our society. Why is cash so important? ✔️ It’s simple. ✔️ It’s reliable. ✔️ It’s inclusive. The digital euro would extend these same qualities to digital payments, ensuring freedom of choice and accessibility for all. Listen to the podcast episode - Like cash, but digital: the facts behind the digital euro https://lnkd.in/eP2m633M

🎥 Live tomorrow at 11:00 What do consumers and merchants want from the digital euro? What will the next phase of the project involve? We’re teaming up with BEUC - The European Consumer Organisation to meet European civil society organisations and discuss how the digital euro would bring the benefits of cash to today’s digital world. 🔗 Watch the seminar live https://lnkd.in/d-dM8nsZ  

Our payment habits are changing. With digital payments on the rise, we need to preserve people’s freedom to choose how to pay. We already have cash, card, online transfers – and soon, we could have a digital euro. But what is the digital euro, and how will it work? Will it replace cash? Concerns about data security and government control have sparked debate around the digital euro, often fuelled by disinformation. We focus on the facts as our host Stefania Secola teams up with Aidas Palubinskas from EU Finance Podcast to speak to Executive Board member Piero Cipollone about modernising our money. They explain that: ❌ 𝐓𝐡𝐞 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐞𝐮𝐫𝐨 𝐰𝐢𝐥𝐥 𝐧𝐨𝐭 𝐫𝐞𝐩𝐥𝐚𝐜𝐞 𝐜𝐚𝐬𝐡. We remain committed to ensuring access to cash. 🔎 𝐓𝐡𝐞 𝐝𝐢𝐠𝐢𝐭𝐚𝐥 𝐞𝐮𝐫𝐨 𝐰𝐨𝐮𝐥𝐝 𝐛𝐞 𝐥𝐢𝐤𝐞 𝐜𝐚𝐬𝐡, 𝐛𝐮𝐭 𝐝𝐢𝐠𝐢𝐭𝐚𝐥. The money you currently use for everyday digital payments is issued by private banks. The digital euro would be a public good issued by the central bank, like cash. It would complement banknotes and coins, giving people an additional payment option to choose from. 📊 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐝𝐚𝐭𝐚 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐚𝐧𝐝 𝐬𝐞𝐜𝐮𝐫𝐞. Data on payment behaviour will be anonymous, meaning that governments, central banks and other authorities won’t be able to access it. And transaction data will be securely stored. 🧭 𝐓𝐡𝐞 𝐩𝐫𝐨𝐣𝐞𝐜𝐭 𝐢𝐬 𝐦𝐨𝐯𝐢𝐧𝐠 𝐟𝐨𝐫𝐰𝐚𝐫𝐝. The ECB’s Governing Council will not make a decision on whether to issue the digital euro until EU lawmakers have passed the underlying regulation. Check the comments for the link 👇

💡 Four key questions on the digital euro ECB Executive Board member Piero Cipollone addresses four critical questions about the digital euro in a hearing at the European Parliament: 1️⃣ Why do we need it? To bring the benefits of cash into the digital world, responding to the way Europeans already live, pay and do business. 2️⃣ Are banks’ business models at risk? No, the digital euro will work through banks and intermediaries, allowing them to enhance the payment services they can offer. 3️⃣ Would it replace cash? No! The digital euro will complement cash. It will be just like cash, but in digital form. 4️⃣ Will it protect user privacy? Yes! The digital euro will include strict privacy measures and adhere to EU data protection law.   The digital euro is a vital, forward-looking step for Europe. 🔗 Read the full statement https://lnkd.in/dbDvpccy

The digital euro is progressing! The ECB Governing Council has decided to advance the digital euro project. This milestone marks the completion of the preparation phase, which was launched in November 2023. ➡️ Your digital cash could soon be on its way! What’s in it for you?💡The digital euro will allow you to: 🔹 pay easily, for free, anywhere – online or offline, with a trusted public digital option that complements physical cash 🔹 keep control of your data – your privacy and freedom of choice are protected 🔒 🔹 pay the European way – using a European solution based on a European infrastructure that strengthens Europe’s monetary sovereignty  🇪🇺 🔹 enjoy inclusive, innovative payments – designed for everyone across the euro area 🌍 📅 What are the next steps? • November 2025: technical readiness phase begins • 2026: co-legislators expected to adopt the Regulation on the establishment of the digital euro (legislative process ongoing in parallel) • mid-2027: pilot and first transactions could start • 2029: potential issuance of the digital euro 🚀 📖 Read the full press release https://lnkd.in/eEJmkrjk

In an interview with Delfi, Executive Board member Piero Cipollone explains how the digital euro can: 1️⃣ strengthen Europe’s resilience by offering a European digital payment option available across Europe 2️⃣ complement cash with its digital equivalent, extending the benefits of cash to the digital sphere Read the full interview https://lnkd.in/eAfuQiYE

💶🌍 Have you heard about the digital euro scheme’s Rulebook Development Group? The Rulebook Development Group (RDG) is made up of senior representatives from European associations representing both the supply and demand side of the retail payments market; the associations represent consumers, retailers and payment service providers. Representatives from national central banks and EU institutions are also invited as observers. The RDG supports the development of the digital euro scheme’s rulebook, which provides a single set of rules, standards, and procedures for digital euro payments. They recently held a meeting in Rome, kindly hosted by colleagues from the Banca d'Italia. They discussed further advancements on parts of the draft rulebook and there was also an exchange on the RDG review process of the draft rulebook.   To learn more about the RDG, check out our webpage: https://lnkd.in/eKK_AaAk

🛍️ Merchants are at the heart of the digital euro. At a recent Deutsche Bundesbank conference in Brussels, merchants, policymakers and financial experts came together to discuss how the digital euro could strengthen European payments. Digital euro programme director Evelien Witlox joined a panel alongside Members of the European Parliament on how the project can support merchants while boosting innovation and strengthening Europe’s strategic autonomy. 📌 Key takeaways: 🔹 Merchants are central to the success of the digital euro – their needs and perspectives are shaping the project through research, workshops, and meetings. 🔹 The digital euro is designed to complement existing payment methods, offering greater choice, resilience and efficiency. 🔹 Strengthening European sovereignty in payments is a shared priority. Currently nearly two‑thirds of card payments in the euro area depend on non-European providers. 🔹 The discussions showed strong engagement across various sectors and a clear momentum to make the digital euro work for Europe’s economy. 🔗 Learn more about the digital euro https://lnkd.in/ekBbczW8 📷 Photos: Deutsche Bundesbank/Iris Haidau

🌍 The Baltic Digital Euro Conference at Eesti Pank | Bank of Estonia in Tallinn brought together policymakers, central bankers and market participants to discuss the future of money in Europe. There were strong messages from Valdis Dombrovskis, European Commissioner for Economy and Productivity, and for Implementation and Simplification; Piero Cipollone, Executive Board member of the European Central Bank; Evelien Witlox, digital euro programme director; and many others. The conference highlighted how the digital euro can enhance resilience, reduce dependency on non-European providers and ensure that people and businesses continue to have access to safe, innovative payment options. A big thank you to Eesti Pank | Bank of Estonia, Latvijas Banka and Lietuvos bankas | Bank of Lithuania for organising the conference. 🔗 Learn more in the original post below 👇