The digital euro will be available for use without internet and electricity

On November 6, a press conference was held at the Central Bank of Cyprus, where the stages of issuance and circulation of the digital euro were explained in detail. According to the Governor of the Central Bank of Cyprus, Christodoulos Patsalides, the project is moving from technical planning to practical implementation. The digital euro aims to strengthen autonomy, stability and competitiveness of the European economy.

The Director-General of the Payment Supervision Directorate stated that the implementation of the digital euro will take place in three stages: adoption of the law by the European Parliament in 2026, a pilot phase in 2027, and full technical and operational readiness by 2029. He noted that the Cypriot presidency of the EU Council in the first half of 2026 will help prepare the necessary legislation.

The ability to make offline payments — without electricity and internet — was particularly emphasized. The user brings their mobile phone close to the recipient’s device, and data is transmitted only between these devices, ensuring privacy. This function has already been developed at the first preparation stage, and consultations with device manufacturers are underway to ensure safe use.

The digital euro will become an additional means of payment that can be stored in a bank account or with a public intermediary. It will be possible to use it both online and offline via a phone or card. Thus, Europe will increase control over financial transactions while ensuring citizens’ security.