The European Central Bank (ECB) said it is looking for experts to help draft rules on how a digital euro would work in daily payments in anticipation of legislation authorizing a central bank digital currency (CBDC) and a decision by the bank’s governing council to issue one.
The ECB opened applications for experts to help draft parts of the digital euro rulebook specifically relating to ATMs and card payment terminals used in shops, it said on Thursday.
ECB President Christine Lagarde said in December that the bank had completed its technical and preparatory work on the digital currency and that it was now up to the political institutions to act. The project, which aims to create a public digital means of payment, is under review by the European Council and the European Parliament. If approved, the central bank has signaled a potential rollout before 2029.
A workflow will define how ATMs and point-of-sale terminals process digital euro payments. This includes how devices connect, how they support offline transactions, and how current payment standards can support the new currency. The aim is to ensure that people pay with a digital euro at the till or withdraw it from ATMs throughout the euro area.
Another group will design a certification process for payment tools and infrastructure. It will set out how providers test and approve systems used to accept digital euro payments in shops and payment networks.
While the central bank is working on the project, a group of 12 European banks are moving forward with their own version of a euro-pegged token. The banks, including BBVA, ING, PNB Paribas, have formed the Qivalis project, a plan 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.
