ECB Accelerates Work on the Digital Euro

The European Central Bank has entered a new phase in developing the digital euro. This stage focuses on how the currency could be used in everyday payments, including transactions at ATMs and payment terminals.

The ECB has announced a call for experts to join two dedicated working groups within the team responsible for designing the digital euro framework. These groups will be tasked with preparing detailed technical guidelines and defining the rules for approving new payment solutions.

A key objective is to assess how the digital euro could integrate with existing payment systems. Particular attention is being given to offline functionality and compatibility with current European standards.

The first working group will focus on integrating the digital euro with ATMs and payment terminals. Their work will cover communication technologies, offline transaction handling, and the use of existing payment infrastructures.

The second group will concentrate on developing procedures for testing, certifying, and approving payment systems. The goal is to ensure that any new solutions are secure and aligned with the requirements of the broader financial ecosystem.

The project will involve representatives from various sectors, including merchants, payment service providers, and consumers. Their role will be to contribute technical expertise needed to establish consistent operational rules for the digital euro.

At the same time, the ECB is preparing for the next stage of the project. A 12-month pilot program is planned to begin in the second half of 2027, involving a limited number of participants such as selected retailers, institutions, and Eurosystem staff.

Despite this progress, a final decision on issuing the digital euro has not yet been made. The ECB emphasizes that it will only be possible after the adoption of the necessary legal framework.