European Central Bank Launches Design Phase for Digital Euro, Beginning New Investigation #
The European Central Bank has approved a 24‑month investigation phase for its digital euro project, shifting the focus to functional design and prototyping. This investigation phase will explore key issues around design and distribution to ensure the digital euro is risk‑free, accessible and efficient. ECB President Christine Lagarde has stated that the work aims to guarantee that citizens and businesses continue to access the safest form of money in the digital age. She described previous results as encouraging, noting that no significant technical obstacles have been identified so far.
ECB board member Fabio Panetta has pledged to keep the European Parliament, decision‑makers, merchants and the payments industry informed throughout this phase. The Eurosystem will engage focus groups, prototyping and user testing to refine use cases and assess potential legal and financial stability implications. A market advisory group together with the Euro Retail Payments Board will gather views from prospective users and distributors during this phase.The investigation phase will also help determine possible adjustments to the EU’s legislative framework, which will be discussed with European co‑legislators.