EU council backs online and offline rollout of digital euro

The Council of the European Union has endorsed plans to launch the European Central Bank’s digital euro in both online and offline formats.

The decision aligns with the ECB’s proposed framework for introducing a central bank digital currency across the bloc.

A policy document published on Friday confirmed support for rolling out the two versions at the same time.

EU officials said the dual approach is intended to balance innovation, usability and consumer privacy.

The digital euro is designed to complement physical cash rather than replace banknotes entirely.

Lawmakers stressed that the final structure will depend on approval through the EU legislative process.

It's now for the European Council and certainly later on for the European Parliament to identify whether the Commission proposal is satisfactory, how it can be transformed into a piece of legislation or amended.

Christine Lagarde said.

The online version of the digital euro would operate through conventional electronic payment systems.

The offline version would allow transactions to take place without an internet connection.