| Deutsche Bundesbank

Where does the digital euro project currently stand?

The digital euro project is moving forward. The preparation phase, launched in November 2023 and concluded in October 2025, advanced technical development and learning through experimentation. This work built on the design choices and technical requirements defined during the investigation phase.
Now that the investigation and preparation phases have been concluded, the Eurosystem is progressing with technical work, deepening market engagement and continuing to support the legislative process. We aim to be ready for a potential first issuance of the digital euro during 2029, assuming the necessary regulation on the establishment of the digital euro is adopted in the course of 2026.
Who is involved in the digital euro project?
The Eurosystem, which comprises the ECB and the national central banks of the euro area – including the Bundesbank – aims to ensure that the digital euro meets users’ needs. For this reason, the Eurosystem engages regularly with various groups which would ultimately use the digital euro. These include policymakers, legislators, market participants, civil society organisations and members of the public.
This engagement takes place in various contexts. One of which is the Euro Retail Payments Board (ERPB), which brings together stakeholders from all parts of the European retail payments market. Another is the Rulebook Development Group, which comprises senior professionals from the public and private sectors with experience in finance and payments. The Bundesbank is a member of the ERPB.
The ECB also regularly engages with:
private companies, which provide feedback on the technical aspects of the digital euro based on their market knowledge and expertise and testing on the digital euro innovation platform;
European civil society organisations via seminars to listen to their views and foster an open dialogue;
potential end users through surveys, interviews and focus groups to understand their needs and preferences.
The ECB regularly participates in Eurogroup meetings, i.e. meetings with the finance ministers of euro area countries. It also provides regular updates on the digital euro project to the Committee on Economic and Monetary Affairs of the European Parliament.

Further information

Digital euro innovation platform

ecb.europa.eu
How are European legislators involved in the pro-cess?

On 28 June 2023 the European Commission presented the Single Currency Package containing proposals to support the use of cash and to establish the framework for a possible digital euro. The ECB welcomes the fact that the digital euro proposal is accompanied by a proposal to strengthen the role of cash, as both would be legal tender and forms of central bank money. The purpose of the proposed digital euro regulation is to ensure that any future digital euro would give people and businesses the option to pay digitally using a widely accepted, cheap, secure and resilient form of public money anywhere in the euro area.
The ECB provides support and technical input during the legislative process, as required. Any necessary adjustments to the design of the digital euro that may emerge from legislative deliberations will be considered by the Eurosystem.
The ECB’s Governing Council will not make a decision on whether to issue the digital euro until the regulation on the establishment of the digital euro has been adopted.
How is the digital euro scheme rulebook being developed?

The Eurosystem is developing the draft rulebook in close collaboration with representatives of the European retail payments market through the Rulebook Development Group (RDG).
The RDG, which consists of senior representatives from European associations representing both the supply and demand sides of the European retail payments market, is working on the basis of the digital euro design choices that have already been approved by the ECB’s Governing Council.
Dedicated workstreams have been created within the RDG to focus on sections of the rulebook that require particular expertise.
In June 2025 a revised interim draft of the digital euro scheme rulebook was delivered to the RDG for a market consultation. The draft rulebook remains sufficiently flexible to accommodate any future adjustment deriving from the final text of the Regulation on the establishment of the digital euro, once adopted.

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