The European Central Bank (ECB) said it is looking for experts to help draft rules on how a digital euro would work for everyday payments, in preparation for legislation authorizing a central bank digital currency (CBDC) and a decision by the bank’s board on the issuance of a central bank digital currency (CBDC).
The ECB announced on Thursday that it has started recruiting experts to help draft a digital euro rulebook, particularly related to ATMs and card payment terminals used in stores.
ECB President Christine Lagarde said in December that the ECB had completed technical and preparatory work on digital currencies and that the future would depend on the actions of political institutions. The project aims to create a public digital payment instrument and is under review by the European Council and the European Parliament. If approved, the central bank has indicated it could be rolled out by 2029.
One workstream defines how ATMs and POS terminals process digital euro payments. This includes how devices connect, how offline transactions are supported, and how current payment standards support new currencies. The goal is to allow people across the eurozone to pay with digital euros at checkout or withdraw them from automated teller machines.
The second group will design payment tools and infrastructure authentication processes. This sets out how providers will test and approve systems used to accept digital euro payments in stores and payment networks.
While central banks are working on the project, a group of 12 European banks is developing their own version of the Europeg token. Banks including BBVA, ING and PNB Paribas have formed the Qivalis project, which plans to roll out a euro-pegged stablecoin in the second half of 2026, with the aim of offering blockchain payments without relying on dollar-backed tokens.
