The European Central Bank (ECB) has published a Report on a Digital euro, i.e. a Central Bank Digital Currency (CBDC) in the euro area.

The term digital euro denotes a liability of the Eurosystem recorded in digital form as a complement to cash and central bank deposits. The ECB states that a Digital euro is not necessary, so far, but it is important to be ready in case of a consistent demand for such a means of payment.

The Report enumerates different scenarios and considers digital euro’s potential effects (e.g. impact on banks and on the safety and efficiency of retail payments), implied requirements and design possibilities.

Download the document