Project plan and governance
In October 2020 the ECB published a report on a digital euro, examining the potential issuance of a central bank digital currency – or digital euro – by the Eurosystem.
Nine months later the decision was taken to launch the digital euro project. The project’s investigation phase ran from October 2021 to October 2023. During this time, we studied design options and distribution models in close cooperation with stakeholders such as EU policymakers and market participants. The findings formed the basis for the preparation phase, which started in November 2023.
The preparation phase aims to lay foundations for the potential issuance of a digital euro. This includes finalising the digital euro scheme rulebook and selecting providers that could potentially develop a digital euro platform and infrastructure. The preparation phase will involve testing and experimentation to ensure that a potential digital euro would be able to meet the Eurosystem’s requirements and a range of user needs.
We will continue to engage with stakeholders, market participants and the public to ensure that any potential digital euro is capable of meeting the needs of all users.
The Eurosystem’s High-Level Task Force on Digital Euro is steering the digital euro project and reporting to the ECB’s Governing Council.
Members of the High-Level Task Force on Digital EuroThe decision on whether to ultimately issue a digital euro can only be considered at a later stage, after the adoption of the legislative framework for the digital euro at the European level.