ECB seeks specialists to assist in incorporating digital euro into ATMs and card payment systems.

The European Central Bank is laying the groundwork in case lawmakers permit the issuance of a digital currency and the governing council of the bank endorses its release.

The ECB’s initiatives regarding ATMs and retail payment systems are progressing ahead of any conclusive decision on the currency’s issuance. (Christian Lue / Unsplash / Modified by CoinDesk)

What to know:

• The European Central Bank is enlisting specialists to assist in formulating regulations governing the functionality of a potential digital euro in daily transactions, concentrating on ATMs and in-store card processing.
• One workstream will determine how payment devices handle digital euro transactions, including offline usage and alignment with existing standards, while another will create a certification framework for payment tools and infrastructure.
• The digital euro initiative, currently pending political endorsement with a possible launch by 2029, is progressing in tandem with the Qivalis project, where 12 European banks aim to introduce a euro-pegged stablecoin in 2026.

The European Central Bank (ECB) has announced it is seeking experts to aid in drafting regulations regarding the operational aspects of a digital euro as it anticipates legislative approval for a central bank digital currency (CBDC) and a decision from the bank’s governing council to proceed with its issuance.

The ECB has opened a call for applications from experts to contribute to drafting specific regulations related to ATMs and card payment terminals utilized in retail settings, as stated on Thursday.

ECB President Christine Lagarde indicated in December that the bank had finalized its technical and preparatory efforts concerning the digital currency, and it is now the responsibility of political bodies to take action. The initiative, aimed at establishing a public digital payment method, is under consideration by the European Council and the European Parliament. Should it receive approval, the central bank has indicated a potential launch by 2029.

One workstream will outline how ATMs and point-of-sale systems process digital euro payments. This encompasses the connectivity of devices, support for offline transactions, and the compatibility of current payment standards with the new currency. The objective is to facilitate payments with a digital euro at checkout or withdrawals from ATMs throughout the eurozone.

A second group will establish a certification process for payment systems and infrastructure. This will define how providers evaluate and authorize systems employed for accepting digital euro payments in retail environments and payment networks.

While the central bank advances the project, a consortium of 12 European banks is progressing with their own version of a euro-pegged token. These banks, including BBVA, ING, and PNB Paribas, have initiated the Qivalis project, which plans to launch a euro-pegged stablecoin in the latter half of 2026, aiming to facilitate blockchain payments without dependence on dollar-backed tokens.