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.
Progress on the digital euro
In October 2025, the ECB’s Governing Council decided that the Eurosystem will move to the next phase of the digital euro project.
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.
Frequently Asked Questions
How would the digital euro help me? How would the digital euro be different from stablecoins and crypto-assets? Would the digital euro guarantee user privacy? Would the digital euro replace cash? Check out the answers to common questions here.
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?… 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 the technical analysis on the financial stability impact of the digital euroThe ECB Podcast
The 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 episodesThe 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 episodeEnsuring 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 projectLATEST PUBLICATIONS ON THE DIGITAL EURO
FIND THEM HERE
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.