Digital euro
A planned digital form of euro cash, issued by the European Central Bank. A pilot is planned for 2027 and a first issuance is possible in 2029 – if the EU adopts the law in 2026 (as of September 2026).
Alsoe-eurodigital euro casheuro CBDC
The digital euro is a European Central Bank project: euro cash in digital form, issued directly by the central bank – a CBDCGlossaryCBDC (central bank digital currency)Digital money issued directly by a central bank – unlike bank balances, which are a claim against a commercial bank. 146 countries and currency areas are exploring a CBDC, but only three have launched one (as of May 2026).In the glossary →. It wouldn’t be new money or a cryptocurrency, just another way to pay in euros.
What is planned
According to the ECB, it should be free for everyone, work online and offline by smartphone or card, and give privacy particularly strong protection. The ECB is preparing a pilot for 2027. It considers a first issuance possible in 2029 if the EU law is adopted in 2026.[1],[2]
Where the legislation stands
The European Commission presented its proposal on 28 June 2023. Since July 2026, Parliament and the Council have been negotiating the final text; there is no agreement yet (as of September 2026).[3]
The digital euro and Bitcoin
The digital euro is the euro: worth the same as cash and issued by the Eurosystem. Bitcoin has no issuer, a fixed maximum supply and a highly volatile price. Critics fear that state-run infrastructure for digital cash could allow more control over payments. Supporters point to the promised data protection and independence from private payment providers. More in Digital euro, CBDCs & Bitcoin.
Related terms
These terms are closely connected.
- This termDigital euro
- CBDC (central bank digital currency)Digital money issued directly by a central bank – unlike bank balances, which are a claim against a commercial bank. 146 countries and currency areas are exploring a CBDC, but only three have launched one (as of May 2026).
- Fiat moneyMoney that isn’t backed by gold or other physical assets but rests on government decree and trust – such as the euro and the US dollar. Most of it is created by commercial banks, for example through loans.
- StablecoinA crypto-asset whose value is meant to be pegged to a currency such as the US dollar or the euro. Unlike bitcoin, a stablecoin has an issuer – its value depends on the issuer keeping its reserves and remaining solvent.
- InflationA general rise in prices that makes money lose purchasing power. The ECB aims for 2% a year over the medium term for the euro area.
Explained in depth
These articles go into more detail:
- Deep dive · Stage 2Digital euro & BitcoinWhere does the digital euro stand (as of September 2026), how does it differ from Bitcoin and what would it mean for your privacy? Neutral, with sources.
- ReferenceWhat’s changingMiCA, DAC8, the holding-period debate, the BIP-110 split and a COLDCARD bug: what is changing around Bitcoin right now – and whether you need to act.
More from „Money & economics“
Sources3 sources · 2 publishers
The superscript numbers in the text refer to these sources.
- Digital euro – European Central Bank (accessed 28/09/2026)
- Digital euro – Progress – European Central Bank (accessed 28/09/2026)
- Procedure file 2023/0212(COD): Establishment of the digital euro – European Parliament (Legislative Observatory) (accessed 28/09/2026)
This entry is for education only and is not investment, tax or legal advice.