The Council of the European Union has approved a negotiating mandate for the digital euro that includes both online and offline usage, diverging from earlier proposals that favored an offline-only model. Under the plan, the digital euro would be issued by the European Central Bank and usable regardless of internet connectivity.
Online payments would be processed through the central bank’s ledger or authorized intermediaries, while offline transactions would be recorded locally and synchronized later, preserving cash-like privacy and resilience during outages. The ECB views the digital euro as a way to modernize Europe’s payments system and maintain monetary sovereignty as cash usage declines.
The framework includes safeguards such as holding limits to prevent bank deposit outflows, with caps reviewed every two years. Basic services would be free, while value-added features could carry fees. With negotiations set to begin with the European Parliament, the ECB has indicated a pilot phase could start in 2027, with full deployment around 2029.
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