From vision to value: recommendations for the Digital Euro trilogues

Executive summary 

The Digital Euro represents a major transformation of Europe’s payments ecosystem and will require significant investment by payment service providers (PSPs) and other market participants to develop, deploy and operate the necessary infrastructure.1 The final text of the Digital Euro Regulation should therefore provide legal certainty, a balanced governance framework and the right economic incentives to ensure a successful rollout.2 

In the context of the trilogue negotiations, DIGITALEUROPE urges the EU co-legislators to adopt the following recommendations:  

• Allow all stakeholders involved in the distribution of the Digital Euro to be adequately compensated for the costs incurred in delivering the relevant services 

• Ensure that holding limits address unintended consequences on financial stability  

• Leverage existing standards, protocols and infrastructure developed by the industry for the deployment of the Digital Euro 

• Ensure a clear separation of the European Central Bank’s (ECB) roles as Digital Euro issuer, supervisor of financial institutions and provider of clearing and settlement services 

• Provide the industry with a clear timeline for the issuance of the Digital Euro, allowing sufficient time to make the necessary investments