Preparation Phase Report for Digital Euro Implementation

This document is a closing report that outlines the progress made during the preparation phase of the digital euro project initiated by the Eurosystem. The project aims to adapt central bank money to the digital age, addressing the evolving challenges of the European payments ecosystem as cash usage declines. The report details the main objectives achieved during the two-year preparation phase, including the development of a draft digital euro scheme rulebook, selection of service platform providers, and user research to ensure the digital euro meets quality, security, and usability standards. The rulebook standardizes payment services for participating payment service providers, ensuring a consistent digital euro payment experience across the euro area. The report also emphasizes the importance of innovation and accessibility, detailing technical analyses conducted to support the resilience of the digital euro. Furthermore, it highlights stakeholder engagement efforts, which contributed to a consensus on the benefits of the digital euro and its potential to enhance competitiveness in the European payment landscape.