The phase will involve the identification and selection of providers for the digital euro’s supporting platform and underlying infrastructure, as well as the finalisation of the regulations and rulebook behind the technology. The ECB is expected to begin this endeavour on 1 November 2023, with the phase forecast to last for two years.
It will also see the ECB test and experiment with a digital euro to ensure that it meets the requirements of both the Eurosystem and the end user, with privacy, financial inclusion and the environmental footprint all cited as key areas of focus.
