ECB Chief Announces Final Phase of Digital Euro Preparation
European Central Bank (ECB) President Christine Lagarde has announced the final phase of preparation for the launch of the digital euro — calling it a “symbol of faith in a shared future” and emphasizing the ECB’s commitment to introducing the currency as soon as possible.
Lagarde: “A digital expression of unity”
During her statement, Lagarde presented the digital euro as a unifying instrument for the European Union — a way to strengthen financial sovereignty and modernize cross-border transactions within the eurozone.
“We want cash to exist in digital form as well, through the digital euro — just like banknotes, which will continue to circulate,” she said. “It will enable citizens to make secure online payments across the EU, supported by the credibility and trust of the ECB.”
Lagarde described the upcoming rollout as a key milestone in Europe’s monetary evolution, stressing that the digital euro should coexist with physical currency rather than replace it. According to the ECB, the project is now entering the **“preparation phase,”** which focuses on technical design, infrastructure security, and pilot implementation with select financial institutions.
Criticism from crypto advocates and policymakers
While Lagarde portrayed the digital euro as a step toward innovation and inclusion, her comments triggered backlash from both the crypto community and certain political figures.
Critics argue that central bank digital currencies (CBDCs) could compromise financial privacy by giving governments greater control over citizens’ transactions. Prominent crypto analysts described the initiative as “a centralized counterweight to decentralized finance,” warning that the digital euro could undermine individual autonomy and weaken the appeal of Bitcoin and other cryptocurrencies within the EU.
Several European lawmakers have also raised concerns about data protection, urging the ECB to provide stronger guarantees that the digital euro will not lead to surveillance-style oversight of spending behavior.
Strategic goals and next steps
The ECB’s roadmap suggests that the digital euro’s preparatory phase will run through 2026, after which full-scale implementation could begin. The institution plans to work closely with national central banks, payment providers, and cybersecurity experts to ensure interoperability and resilience.
If successfully launched, the digital euro would become the first pan-European CBDC — a direct alternative to private stablecoins and foreign digital currencies like China’s e-CNY. Supporters claim it will strengthen the EU’s monetary independence and give citizens a state-backed digital payment option.
A cautious race toward digital money
Globally, more than 130 countries are exploring central bank digital currencies, with over 20 projects already in pilot stages. Europe’s initiative, however, is seen as one of the most complex due to its multi-state coordination and strict regulatory framework.
Lagarde’s vision of the digital euro as both innovation and integration underscores the EU’s attempt to balance progress with public trust. For now, the project remains as much a political statement as a financial one — a declaration that Europe intends to shape its own digital future.
Conclusion
The ECB’s announcement marks a decisive step in Europe’s transition toward digital money. Whether the digital euro will inspire confidence or controversy depends on how effectively the ECB manages the balance between security, privacy, and accessibility.
As Christine Lagarde put it, “The euro must evolve with the times — without losing the trust that built it.”
Editorial Team — CoinBotLab