Digital euro for everyone and everywhere

Digital euro for everyone and everywhere

Published: 13/12/2023

The aim of a digital euro is to give users an additional option for everyday digital payments or money transfer between users. A digital euro would complement cash, not replace it. Also, people would be able to exchange it for euro banknotes and euro coins. It would be directly available to all citizens for payment purposes. The features of a digital euro will allow for a simple and risk-free transfer of money and settling of payments free of charge. Just like cash, it would be the responsibility of the central bank.

Depending on the final legislative solution, consumers and merchants in the European Economic Area and/or certain third countries would also have access to a digital euro in the future.

Digital euro would be safe and easy to use. It would promote digital financial inclusion and would accommodate the needs of people with disabilities and those with no access to a bank account or lacking digital or financial skills.

As the payment scheme owner and the operator of the settlement component for digital euro transactions, the Eurosystem would not have access to or store users’ personal data. A digital euro would offer both online and offline functionalities, meaning that users will be able to use it in situations of limited connectivity or emergency, that is, in case of a contingency or extraordinary circumstances.