Governance and stakeholder engagement

We are designing a digital euro together with euro area central banks and in collaboration with numerous stakeholders. These include European citizens, merchants, businesses, banks and other payment service providers, technical service providers, public authorities at EU and national level, and central banks from around the world.

We publish details of our interaction with stakeholders along withproject documentation from current and previous phases. This reflects our commitment to be transparent and accountable in our processes and decisions.

Project governance

The body steering the digital euro project is the Eurosystem’s High-Level Task Force on Digital Euro, which reports to the ECB’s Governing Council. It is made up of members from national central banks of the Eurosystem.

EU institutions and policymakers

At the ECB we engage extensively with other EU institutions and policymakers on a digital euro. 

We regularly discuss its progress with the finance ministers of euro area countries and with Members of the European Parliament in the Committee on Economic and Monetary Affairs.

We also cooperate closely with the European Commission to review, at the technical level, a broad range of policy-related, legal and technical questions on the possible introduction of a digital euro. 

In October 2023 we published anopinion on the digital euro, and we continue to provide technical input to European co-legislators as needed.

We also engage with other EU bodies and institutions, such as the European Data Protection Authorities and the European Economic and Social Committee.

The decision on whether to issue a digital euro will be considered after the adoption of the legislative framework for the digital euro by EU lawmakers. 

Market stakeholders

By drawing on the existing skills and knowledge of market experts and insights from consumers, we aim to design the best possible digital euro, ensuring it reflects the needs and preferences of people across Europe.

We regularly engage with market stakeholders through theEuro Retail Payments Board (ERPB), a high-level strategic body tasked with fostering the integration, innovation and competitiveness of euro retail payments in the EU. The ERPB serves as a forum for dialogue with the market on a digital euro, representing industry and stakeholder associations – including the banking sector, non-bank financial institutions, consumer organisations, merchants, corporates and small and medium enterprises (SMEs).

The ECB informs and consults the ERPB about the progress on its digital euro work in regular meetings, technical sessions and written procedures. Dedicated ERPB technical sessions on a digital euro are the main forum for engagement with ERPB member associations.

Moreover, we work closely with the Rulebook Development Group to gather market input and industry perspectives on preparing arulebook for a digital euro scheme.

In addition, weinteract with other central banks and the Bank for International Settlements (BIS) on central bank digital currencies (CBDCs), both through one-on-one interactions and within international fora such as the G7 and G20.

In all these interactions, we invite feedback on the technical aspects of a digital euro and collaborate with market participants to gain valuable insights and experience that will inform the design of a digital euro.

While the ECB collaborates extensively with various market stakeholders, the Governing Council of the ECB is ultimately responsible for decisions related to the digital euro. These decisions are made independently of any political and private actors, guided by the project’s development and the legislative process. 

General public

We actively engage with adiverse range of potential digital euro users. Through surveys, interviews and focus groups, we gather insights and perspectives directly from people across Europe to understand their needs and preferences. Find out more abouthow we are involving the public in the development of the digital euro.

In addition to these interactions, we exchange ideas with representatives fromEuropean civil society organisations and academic institutions. Here you can find all therecordings and presentations from the civil society seminars.

This dialogue informs our design and development process, ensuring that the digital euro meets the public’s expectations and requirements.

Groups previously involved in the project

The Digital Euro Market Advisory Group advised the Eurosystem on the design and potential roll-out of a digital euro during the investigation phase. The group’s members were market practitioners, acting in a personal capacity, who had direct, active experience in the retail payments space.

Throughout the investigation phase, we published several reports on the progress of the project to update the public on the project status. We also published material that had been presented and shared feedback that had been received from market stakeholders. Exploreall published documents from the investigation phase.

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