2026-10-01
Today, at the international conference “Diving into the Digital Euro” in Vilnius, representatives of central and commercial banks, payment processing systems and fintech as well as policymakers are discussing how the digital euro could help create a more resilient, better integrated, innovative, and future-proof European payments ecosystem.
The conference is organised by Lietuvos bankas in cooperation with Eesti Pank and Latvijas Banka. The main questions for debate include the following:
- What added value would the digital euro bring to Europe and the Baltic States?
- How would it be integrated into the payments ecosystem?
- What role will all stakeholders play?
- Would the digital euro foster innovation including new services and business models?
“Today, we are no longer asking what the digital euro is, but rather how it should work to be attractive to both consumers and merchants, and how to use the existing infrastructure effectively and seamlessly to achieve this. All these matters need to be discussed today, with Europe already making intensive preparations for testing the beta version of the digital euro in a real-world environment,” says Evaldas Ruzgys, Member of the Board of Lietuvos bankas.
The opening remarks at the conference were also delivered by Paulius Saudargas, Member of the European Parliament, and Evelien Witlox, Programme Manager of the Digital Euro Project at the European Central Bank.
The Baltic States have some of the most highly digitalised financial markets in Europe. Consumers are used to making payments electronically (using payment cards or smart devices). Instant payments have already become an integral part of everyday life. Vilnius is thus buzzing with discussions on how the digital euro could be integrated into the existing ecosystem and complement the solutions that are already working smoothly. The debate also covers one of the unique aspects of the digital euro, i.e. its ability to operate offline, which is important both in terms for ensuring privacy and for maintaining payments in the event of unforeseen situations (such as natural disasters, etc.).
The conference focuses on the perspectives of various stakeholders including banks, fintech companies, payment infrastructure providers, and merchants. For a consumer to use a payment instrument, it must be easy and secure to use. However, behind every ‘effortless’ payment lie many complex aspects. It is therefore essential that all parties clearly understand their roles and evaluate their expectations, as well as understand how their cooperation can shape the eventual outcome.
Finally, the discussion also looks ahead to consider whether the digital euro could spur the development of new technological solutions, services and business models.
About the digital euro
The digital euro would be a digital form of cash, issued by the central bank and available to everyone in the euro area. Like cash, the digital euro will be designed for everyday payments. At this stage, the Eurosystem is preparing for the potential issuance of the digital euro and plans to begin piloting a beta version of the digital euro in the second half of next year. During the pilot, payment service providers, merchants and staff of the Eurosystem’s national central banks will be able to test the beta digital euro by making payments. The experience gained will help assess technical and operational readiness as well as the user experience.
Currently, 36 payment service providers have already been selected to participate in the testing of the beta digital euro, with a call also published last week targeting e-commerce and m-commerce merchants.