EU Parliament Backs Digital Euro for Both Online and Offline Use

2026-02-12 - 09:16

The European Parliament has expressed support for a fully-fledged digital euro that can operate both online and offline. Members of the European Parliament (MEPs) approved an amendment to provide both options, rejecting a proposal from the European People’s Party (EPP) rapporteur to limit the currency to offline use only, according to Finextra. Jonás Fernández, spokesperson for the Socialist & Democrats (S&D) on economic and monetary affairs, said: Jonás Fernández “We call on the EPP rapporteur to respect the House’s position and abandon a strategy that splits the project. Delaying the approval of an online digital euro while pushing an offline version with far-right support is not viable. It is time to move forward decisively.” The European Central Bank (ECB) is advancing the digital euro to safeguard monetary sovereignty amid cross-border trading volatility and unpredictable US policy. The project requires a legislative framework before launch. If lawmakers and national governments agree next year, the ECB could begin testing the digital euro in 2027, with a potential launch in 2029. Featured image credit: Edited by Fintech News Switzerland, based on image by Who is Danny via Freepik