A digital euro is digital money that would be issued by the Eurosystem, that is, by the European Central Bank (ECB) and national central banks of those EU countries that have adopted the euro. The idea of introducing a digital euro as a form of central bank digital currency for euro area citizens emerged as a response to a growing demand for secure and reliable electronic payments in Europe. Digital money to be issued by the Eurosystem would reinforce trust in monetary system and the permanent value of public money, much like banknotes and coins used by euro area citizens in their daily lives. A digital euro would also boost competition and effectiveness of the European payment services market.
Citizens would be able to use a digital euro in everyday transactions, while payments would be made by using a card or a mobile application or any other means that meets technical requirements set out in the legislative proposal and is also user-friendly and safe to use at the time when a digital euro is issued. It would be widely available, reliable, safe and effective, and it would be created in accordance with the law, offering the highest possible protection of privacy.
As money available to all euro area citizens anytime and anywhere, a digital euro would be provided as a public good and would be free for basic use.