Digital euro

A digital euro would be a kind of banknote that is available to all residents of the euro region and is issued by the central bank. In order to investigate the potential issuance of a digital euro, we are collaborating with the national central banks of the euro region. It would be an electronic form of money, similar to cash, issued by central banks. Additionally, it would offer consumers a another option for payment in addition to coins and banknotes.

A digital euro would be an electronic money system that is freely accessible to anyone. It would be safe and private, just like currency is today, and you could use it anywhere in the euro area. A digital euro would be our single currency’s next big step forward in our increasingly digitalized society.A digital euro would ease everyone’s life by enabling digital payments with public funds. It would be free for us to utilize anytime, anywhere we needed to. This would promote competition in the European payments industry and support the euro area’s monetary sovereignty.

An electronic wallet created with your bank or a third party would be the place to keep a digital euro. This would enable you to use your phone or card to make all of your regular electronic payments, both online and offline, at your neighborhood store, and to friends. Commencing in November 2023, the preparatory phase will concentrate on intensifying preparations for the creation of a digital euro. It expands upon the discoveries made throughout our research phase.

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