ECB Advances Digital Euro Development with Third Progress Report

The European Central Bank has released its third progress report on the digital euro, marking significant strides in its preparation phase. The ECB is refining the draft rulebook with input from payments market representatives, ensuring seamless integration across the eurozone. Over 70 market participants are now testing use cases through a dedicated innovation platform.

Stakeholder engagement remains a priority, with the ECB incorporating feedback from merchants, consumers, and technical experts. The institution is conducting extensive user research to align the digital currency with real-world payment needs. Technical experiments focus on features like conditional payments, signaling the ECB's commitment to creating a competitive, user-centric solution.