Digital Euro Acceleration Project

preparation phase nearing completion

The Eurogroup has accelerated the development of the digital euro, a central bank-backed digital currency aimed at reducing Europe's reliance on non-European payment providers like Visa and Mastercard. The project focuses on establishing clear governance between the Council and the European Central Bank (ECB), setting potential holding limits to protect financial stability, and ensuring privacy and security in digital payments. The preparation phase is nearing completion, with a goal to finalize a Council position by the end of the year and proceed with parliamentary deliberations for legal framework and issuance decisions.