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ECB sums up digital euro prototyping exercise as it nears possible pilot launch

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The European Central Bank (ECB) has published a summary of the results of its digital euro central bank digital currency prototyping exercise.

The exercise investigated offline use of a simulated digital euro and four other instances of interoperability with existing payments systems.The project was part of the second phase of Eurosystem preparations for a potential pilot launch of a digital euro in the fall of this year.

The exercise ran from July 2022 to February 2023. Eurosystem developed a centralized settlement engine for the exercise called N€XT that used an unspent transaction output (UTXO) data model.

Five prototype customer interfaces that represented differing use cases were provided by private companies. Self-custody wallets were also trialed.

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