ECB to Model Digital Euro on China’s CBDC for Universal Access

The European Central Bank (ECB) has confirmed that its digital Euro will mirror China’s central bank digital currency (CBDC) model, emphasizing accessibility and widespread usability. ECB President Christine Lagarde has stated that the digital currency will be developed to serve all citizens equally, reflecting China’s focus on making digital currency available to all sectors, particularly small businesses and retail users.

As part of Europe’s broader move into the digital currency race, the ECB is taking cues from China’s mass adoption success. The digital yuan has already reached millions across key sectors in China, and the ECB sees this as a template for achieving similar scale and inclusivity across the eurozone. Lagarde reaffirmed that the digital Euro is intended to be universal—not limited to the tech-savvy. Instead, the aim is a system that integrates smoothly into everyday transactions while reinforcing Europe’s global financial position.

Beyond domestic use, the ECB views the digital Euro as a strategic tool to reduce Europe’s dependence on the U.S. dollar and strengthen the EU’s presence in international finance. Close cooperation with China’s central bank has already informed parts of the ECB’s planning process. While consultations and pilot testing continue, the ECB remains committed to ensuring the digital Euro complements existing cash systems. Key concerns like privacy, fairness, and accessibility remain central to its design. By aligning with China’s proven rollout strategies, the ECB is signaling its intent to deliver a digital currency that is practical, inclusive, and globally competitive.