Digital euro
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The 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 the 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.
Imagine the digital euro
Central bank money in digital form, available for electronic payments in shops, online or from person to person. Explore how it could work.
Discover the digital euro pilot
Read more about the Eurosystem’s preparations for a digital euro pilot in 2027, who will take part, and the latest updates.
The digital euro in relation to...
... privacy
The digital euro would offer 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.
Digital euro payments: would my data be safe?… crypto-assets
Crypto-assets are not backed or managed by any central institution. There is no guarantee that you can exchange them for cash when you need to. As the 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.
What’s the difference between crypto-assets and the digital euro?… banks’ investment costs
Implementing the digital euro would cost banks an estimated €4 billion to €5.8 billion. This is significantly lower than previous industry estimates, as it reflects the potential for banks to share infrastructure and leverage synergies.
Read the full analysis on digital euro investment costs for the euro area banking sector… financial stability
The digital euro is being designed for everyday use. An ECB analysis shows that the use of the digital euro for day-to-day payments would not harm financial stability – even under a highly unlikely and extreme crisis scenario worse than any real crisis during the first 25 years of the euro.
Read a technical analysis on the financial stability impact of the digital euro…private solutions
The digital euro is intended to complement cash and existing private sector solutions. By engaging with market stakeholders (payment service providers, merchants and consumers), we’re ensuring it will fit smoothly into the existing payments ecosystem and work well with what’s already in place.
Read a report on the fit of the digital euro in the payment ecosystemThe ECB Podcast
Like cash, but digital: the facts behind the digital euro
What is the digital euro, and how would it work? Don’t we already pay digitally? We separate fact from fiction as Stefania Secola teams up with Aidas Palubinskas from EU Finance podcast to speak to Executive Board member Piero Cipollone about modernising our money.
Listen to this podcast episodeThe digital euro, demystified
We are preparing for the possibility of issuing the 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 this podcast episodeThe digital euro: what, why, when? (parts 1 and 2)
Do we need the 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 these podcast episodesJoin the digital euro project!
We are looking for new colleagues to help build the digital euro, focusing on technical readiness, market engagement, and supporting the legislative process.
Ensuring transparency and accountability
We are committed to maintaining transparency and accountability in the digital euro project. We support the legislative process by providing technical input. ECB Executive Board member Piero Cipollone also regularly updates the European Parliament’s Committee on Economic and Monetary Affairs.
Read the updates on the digital euro projectBeware 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.