Timeline and progress on a digital euro

The preparation phase of the project began in November 2023 and is laying the foundations for the potential issuance of a digital euro. This includes finalising the digital euro scheme rulebook and selecting providers that could potentially develop a digital euro platform and infrastructure. The preparation phase involves extensive testing and experimentation, as well as regular exchanges with the public and other stakeholders, to ensure that a digital euro would meet user needs and the Eurosystem’s requirements.

We regularly document the progress of the project in comprehensive reports. 

In October 2020 the ECB published areport on a digital euro that examined the potential issuance of a central bank digital currency – a digital euro – by the Eurosystem.

Nine months later the ECB's Governing Council decided to launch the digital euro project. The project’s investigation phase ran from October 2021 to October 2023 and involved studying design options and distribution models in close cooperation with stakeholders such as EU policymakers and market participants. The findings formed the basis for the decision to launch the preparation phase, which started in November 2023. This two-year phase has focused on further developing the design choices and technical requirements for the digital euro.

View and download a high-level project timeline

The ECB’s Governing Council is expected to decide on the way forward for the digital euro project after the current preparation phase ends in October 2025.

The decision on whether to issue the digital euro will only be considered at a later stage once the European Union’s legislative process has been completed.