The European Central Bank (Banco Central Europeu or BCE) issued a public warning regarding fraudulent schemes that solicit funds by falsely promising guaranteed returns on the digital euro. Fraudsters have circulated fake letters using official BCE branding to invite individuals into bogus investment programs. The central bank emphasized that the digital euro is not an investment product and advised residents to discard any unsolicited solicitations.
The European Central Bank (ECB) and the national central banks of the eurozone countries intend to cover the costs of creating and operating the central infrastructure for the digital euro. The ECB does not intend to charge fees for the system or for processing digital euro transactions, stated executive board member Piero Cipollone.
The European Central Bank (ECB) and national central banks in the eurozone intend to bear the costs of building and running the digital euro's core infrastructure. ECB executive board member Piero Cipollone stated that the bank does not plan to charge fees for the system or transaction processing. The digital euro is designed as a payment method rather than an investment product, meaning it will not accrue interest and will have individual holding limits to ensure financial stability. The ECB estimates that even with potential deposit shifts, the impact on bank liquidity and funding would remain manageable.
The digital euro, Social Security reform, fuel taxes, the cost of wildfires, and new rules for medicines are in the spotlight in the national press this Monday. Portuguese banks want limits and compensation to curb the flight of deposits with the digital euro. Five of the main Portuguese banks – including the two...
I promised to return to the topic I developed last week: the creation of the digital euro, European strategic autonomy, the risks to commercial and cooperative banking, the threats from the US administration, and the presence of a Portuguese unicorn in the revolution launched by Lagarde's ECB. I begin by reaffirming my surprise at the little relevance given by the media to the European Parliament's approval of a European payment system which, if all goes well and receives a similar position from the Council and the Commission, will resolve our dependence on MasterCard, Visa, and other American companies in the European space. Trump has not reacted directly, but behind the diplomatic and economic scenes, the pieces have begun to move. There are veiled threats of tariff increases and cuts in support for those who dare to affront. It is poker time, where each player patiently waits for the revelation of the suits held in each hand. It is necessary, I would say mandatory, to understand that we Europeans are not the only ones moving on this matter. One of the greatest assets of Brazilian diplomacy, led by President Lula, is how he has used the technological success of PIX as a political weapon, a Brazilian payment system being analysed by BRICS members, including China, Russia, and India. BRICS Pay, if realised, would allow for a new payment system that would change, like never before, the assumptions of a financial world anchored in the strength of the dollar. I return to the digital euro. There are many issues to resolve, questions that arise, doubts. Many colleagues are frightened by the possibility that the virtual will change the rules of the game and harm commercial and cooperative banking. They fear 'Big Brother' having all our data available, as if they did not already. I am not in that group. I am optimistic about all processes that streamline and make access more convenient for people. What is seen as a problem can be good news... the need for modernisation will increase security and deepen a relationship of trust and proximity that has defined cooperative members for over a century. We will be what others cannot be, what they have already given up on being; we will have better conditions to execute what distinguishes us. The virtual is not a topic for the future, it is already the present, and tomorrow it will already be the past. Europe is an old place, but the place where one still lives best, the place where Human Rights are most defended. There are dangers on the path, but opportunities to build new hopes, words, and borders. The choice of the Portuguese unicorn Feedzai to lead the fraud protection mechanism for the digital euro is extraordinarily relevant. Nuno Sebastião's company, born in a cubicle in Coimbra and now valued at over two billion dollars, is on the front line of the security of the future of European money, of our money. There is no limit to the dream when it is grounded in knowledge, ambition, and hard work. The greatest pride in so many Portuguese who dare to continue being global sailors and ghost hunters.
The news did not lead the TV bulletins, but it will eventually change our lives a little more. After ten years of discussions, delays, debates, and polls, the European Parliament has approved the digital euro with a significant majority. There are still steps to be taken, namely in the Council and the European Commission, but by 2029 all EU citizens will be able to make payments through a European platform. It is an ongoing revolution, a reaction to a changing world and an America that, under Trump, insists on distancing itself from its historical allies, creating a serious sovereignty problem for Europe. Christine Lagarde, President of the ECB, has taken the front line in defending the digital euro. The article discusses the strategic importance of European autonomy in financial systems, the opposition from certain political parties, and the role of Portuguese innovation, such as the company Feedzai, in this transition.
The article explores the development of the Digital Euro by the European Central Bank, drawing parallels with Brazil's Pix system. It highlights the legal challenges regarding consumer protection and alternative dispute resolution (ADR) mechanisms, arguing that small businesses and legal entities may face similar vulnerabilities to individual consumers when using digital payment services, and suggests that EU legislation should consider broader access to free or low-cost dispute resolution to ensure financial inclusion and justice.
In the current system, deposits remain in commercial banks. With a CBDC, every citizen's account will be held at the central bank. This opens up dangerous channels for the exercise of power.
The European Central Bank plans to move forward with the pilot phase for the digital euro in 2027, with Portugal confirmed to take part in the testing process.
The digital euro is expected to reach the wallets of the Portuguese in 2029. It is a form of electronic money intended to complement the banknotes and coins used in daily life, allowing virtual payments throughout the Eurozone without the need to rely on external networks such as Visa or Mastercard. The offline version will allow payments to be made without internet access.
Financial institutions CGD, BCP and Unicre have been chosen by the ECB for the digital euro pilot project, in which the Banco de Portugal is also participating, the central bank said in a statement. The European Central Bank (ECB), together with national central banks in the euro area, selected 36 payment service providers to participate in the pilot, three of which are from Portugal. The goal is to test the future digital currency from a technical and operational perspective and evaluate user experience. The pilot project will take place in the second half of 2027 and is expected to last 12 months.
Central bank employees will be the first to test the digital euro in their respective canteens. The idea is for the pilot test to begin in 2027. The ECB issuance is expected to occur two years later.
The European Central Bank (ECB), in collaboration with the national central banks (NCBs) of the Eurosystem, including the Banco de Portugal, has selected more than 35 payment service providers (PSPs) to participate in the digital euro pilot, three of which are established in Portugal. According to information released this Tuesday by the institution led by Álvaro Santos...
36 entities were chosen from over fifty applications. For 12 months, they will test offline and online payments and the mechanism that links the digital wallet to a traditional bank account.
Portugal’s minister of finance has said today that the future digital euro – which is now being discussed within the European Union (EU) – will enable the currency to assert The post New digital euro will hold its own against U.S. dollar, says finance minister appeared first on Portugal Resident.
On Thursday, the European Parliament approved the start of negotiations with the EU Council on the creation of the digital euro, a new electronic form of money issued by the ECB.
The approval of the negotiating position on the digital euro by the European Parliament's Committee on Economic and Monetary Affairs marks a turning point in the European debate on monetary sovereignty. Although the European legislative process is not yet complete, the existence of a favourable parliamentary majority shows that the debate is no longer focused on...
The European Parliament has approved the start of negotiations with the Council of the EU regarding the creation of a digital euro, a new electronic form of money issued by the European Central Bank. The move aims to ensure secure payments and reduce dependence on non-EU providers. The proposal, which will function as a complement to physical cash, includes strong privacy protections and provisions for free basic services. Additionally, the Parliament is working on legislation to ensure the continued legal tender status and accessibility of physical cash for all citizens, particularly vulnerable groups.
The proposal provides for the digital euro to function as a complement to physical cash and current electronic payment methods, and it could be used both with an internet connection and in 'offline' mode.
The European Parliament's Committee on Economic and Monetary Affairs has approved a plan to create online and offline versions of the euro, to be known as the digital euro. Expected to launch by 2029, the project aims to reduce European dependence on US payment providers like Visa and Mastercard. Similar to Brazil's PIX system, the digital euro promises lower transaction fees for both buyers and sellers, offering greater payment freedom for EU citizens.
Members of the European Parliament's Committee on Economic and Monetary Affairs approved today the regulation that will govern the future digital euro, the European Union's (EU) electronic currency alternative to Visa and Mastercard, describing it as a 'historic day'.
