The European Parliament (EP) has approved the project for the creation of a digital euro, thus paving the way for the final stage of inter-institutional negotiations for the currency's circulation in January 2029.
Modern.az reports that "European Conservative" published information about this.
"The digital euro was approved with 416 'for' votes against 169 'against' votes," the material says.
The Council of the European Union (EU), the EP, and the European Commission must agree on the final parameters of the project by the end of 2026, after which the European Central Bank plans to begin limited trials in 2027.
Currently, electronic payments are carried out through private international operators such as Visa, Mastercard, American Express, as well as digital services like PayPal, Apple Pay, and Google Pay. The EU wants citizens and businesses to have access not only to private operators but also to a public European payment infrastructure.
Brussels states that the digital euro should strengthen the EU's strategic autonomy and reduce dependence on American payment systems, while it will not replace cash but will be used alongside it.
Basic services should be free. People will be able to open accounts, store, and manage funds. One of the important ideas is that the digital euro can operate in autonomous mode.
