1. What is the digital euro?

The digital euro is a proposed electronic form of public money issued by the Eurosystem, consisting of the European Central Bank and the national central banks of euro-area countries.

Today, most people in the Netherlands use digital balances held at commercial banks to make payments by debit card, mobile banking application or bank transfer.

The proposed digital euro would be different. It would represent central bank money in electronic form, designed to complement commercial bank deposits and physical euro cash.

If introduced, one digital euro would have the same value as one euro in cash. It would not be a cryptocurrency whose price fluctuates independently against the euro.

Why is the ECB developing it?

According to the ECB and European Commission, the proposed digital euro has several objectives:

• Providing a public digital payment option for everyday transactions.
• Allowing payments online and, under the proposed design, offline.
• Reducing Europe’s dependence on a limited number of international payment infrastructures.
• Improving resilience and choice in European retail payments.
• Preserving access to central bank money as more purchases move online.

The ECB emphasises that a future digital euro is intended to complement cash, not replace it.

Whether it will eventually be issued depends on the EU legislative process and a separate decision by the ECB’s Governing Council.

2. Digital euro timeline: what happens in 2026, 2027 and 2029?

The project has progressed through several stages. It is important to distinguish technical preparation, pilot testing and any future public issuance.

Could the pilot last longer than 12 months?

Yes. According to the ECB’s pilot participation arrangements, the relevant national central bank may extend the pilot by up to six months.

The initial operating period remains 12 months. An extension is possible, not guaranteed.

The ECB has also stressed that preparing and running the pilot does not prejudge whether a digital euro will eventually be issued.

3. Why is the Netherlands involved?

The Netherlands is part of the euro area, and its central bank, De Nederlandsche Bank (DNB), participates in the Eurosystem.

On 5 March 2026, DNB announced that Dutch payment service providers were being invited to express interest in the digital euro pilot.

The exercise will test technical and operational processes, as well as how participants experience the proposed payment system.

The planned scenarios include person-to-person transfers and payments in physical shops and online stores.

The Netherlands is therefore involved in a broader European programme. It has not been designated as the only pilot country or as a special public recruitment location.

Why should international residents care?

If a digital euro is eventually introduced, it could offer people living in the euro area another way to pay, alongside bank accounts, cards and cash.

The European Commission’s proposal envisages broad access to the future digital euro, including support for people who do not have conventional bank accounts.

However, that describes the proposed future payment system, not eligibility for the restricted 2027 pilot.

For information on current banking rights, read our guide to opening a bank account in the Netherlands and what to do if a bank refuses.

4. Who can participate in the digital euro pilot?

The ECB has defined a limited group of pilot participants rather than opening applications to all euro-area residents.

The ECB says participating merchants and payment providers will support transactions made by the selected central bank employees.

There is no substantiated official announcement that exactly 5,000 Dutch citizens will receive invitations to join the pilot.

There is also no published general eligibility checklist requiring Dutch residency, a particular age, a DigiD account and an uploaded utility bill.

These unsupported claims should not be confused with the genuine eligibility criteria for payment providers and participating businesses.

5. How to apply for the digital euro pilot in the Netherlands

Individual residents

No verified public registration process exists for ordinary residents.

The individual testers described in the ECB’s published plans are staff members of participating Eurosystem central banks. To take part, those employees must be or become customers of a participating payment service provider.

There is no legitimate general-public process instructing Dutch residents to click an invitation email, submit proof of address and download a digital euro wallet.

Payment service providers

The ECB opened its expression-of-interest process in March 2026. Applications closed on 14 May, and the ECB announced 36 selected providers on 14 July.

Selected providers are responsible for developing and integrating pilot payment services.

Their participation does not mean they can already offer the digital euro to all bank customers.

Online and mobile merchants

The ECB invited eligible online and mobile commerce businesses to apply through a separate process.

The published deadline was 27 October 2026.

With that application window closed, businesses should monitor the official ECB pilot page for further announcements rather than relying on third-party registration websites.

Visit the official ECB digital euro pilot page.

6. Latest update: ECB selects network providers on 30 October 2026

On 30 October 2026, the European Central Bank announced that it had selected two network service provider groups to develop connectivity services for the digital euro infrastructure.

The selected groups are:

• Nexi Payments S.p.A. and Deutsche Telekom Business Solutions GmbH, operating as a temporary grouping.
• Telefónica de España, S.A.U., Telefónica Global Solutions, S.L.U. and Indra Soluciones Tecnologías de la Información, S.L.U., forming the second temporary grouping.

These providers will deliver connectivity services linking participating payment service providers and national central banks to the digital euro service platform.

The ECB confirmed that the first group’s contract entered into force on 28 September 2026.

The second group’s contract is scheduled to begin in May 2027.

The ECB expects both providers to be ready from 2029 to support the connectivity needs of a potential digital euro issuance, subject to future decisions.

This is a technical infrastructure milestone. It is not an announcement that consumer accounts have opened or that the digital euro has become legal tender.

For ordinary residents, the most important practical point remains unchanged: the public cannot currently sign up for the proposed digital euro through an open pilot registration programme.

7. The four payment scenarios the digital euro pilot will test

According to the ECB’s updated pilot guidance, the exercise will validate four main payment scenarios using a controlled beta digital euro.

Scenario 1: Online person-to-person transfers

One authorised pilot user can send a payment to another through a payment application while connected to the internet.

The payer identifies the recipient using a user alias or a digital euro account number, known as a DEAN.

This allows the Eurosystem to test remote transfers and the underlying payment-processing infrastructure.

Scenario 2: Offline person-to-person payments using NFC

Two authorised participants can exchange a beta digital euro payment while physically close to one another.

The payment uses near-field communication (NFC), the technology commonly associated with contactless payments.

Both devices can complete the transaction without an internet connection by tapping them together.

The pilot will evaluate whether this approach works reliably and securely in realistic conditions.

Scenario 3: Online payments in physical shops using NFC

An authorised participant can pay a selected merchant at a physical point of sale.

The customer taps their device against the merchant’s compatible payment device.

Unlike the offline person-to-person scenario, both devices must be connected to the internet for this type of transaction to be completed.

The pilot uses NFC technology and supported software-based point-of-sale solutions.

Scenario 4: Online and mobile commerce purchases

Participants can make payments through selected online shops and mobile commerce platforms.

The payment process will test how the beta digital euro integrates into an online checkout, including authorisation, confirmation and the user’s overall experience.

The ECB also clarifies that business-to-person refunds are part of the existing relevant payment flows, rather than a fifth standalone prioritised scenario.

What will the ECB learn?

Across these four scenarios, the Eurosystem and participating providers will evaluate:

• Transaction processing and reliability.
• Technical integration between payment providers and the central infrastructure.
• Offline payment functionality.
• Security and operational resilience.
• Customer and merchant experience.
• Potential improvements before any future issuance decision.

The results will inform the ongoing project, but they will not automatically trigger a public launch.

8. What could this mean for Dutch banks?

Banks and other regulated payment institutions are expected to play a significant role if the digital euro is introduced.

The proposed model would rely on payment service providers to distribute digital euro services and manage customer relationships.

Potential responsibilities include:

• Providing access to digital euro wallets or payment interfaces.
• Helping users add or withdraw funds.
• Processing payments and supporting transactions.
• Performing relevant customer verification checks.
• Connecting banking systems to digital euro infrastructure.
• Providing customer support and security services.

The precise obligations will depend on the final EU regulation and implementation arrangements.

Can you open a digital euro account at a Dutch bank today?

Not as a generally available official digital euro product.

DNB describes digital euro wallets as part of a possible future payment system, rather than a public service already launched for bank customers.

The ECB’s selection of 36 pilot payment service providers does not mean that all banks in the Netherlands currently offer functioning consumer digital euro wallets.

If you need a conventional bank account now, our Dutch bank account guide explains the existing rules for residents and newcomers.

9. Privacy, transaction fees and savings: what is actually known?

Would a digital euro replace cash?

No. European policymakers describe the proposed digital euro as an additional payment option intended to complement physical cash.

The European Union is also working on measures intended to safeguard access to and acceptance of euro banknotes and coins.

Would digital euro payments be anonymous?

The proposed design aims to provide a high degree of privacy, particularly for offline payments.

However, it would be misleading to claim that every transaction would be completely anonymous or invisible to all relevant payment providers.

Privacy protections must be balanced with applicable payment-services, data-protection and anti-money-laundering requirements.

Would digital euro payments be free?

For the controlled pilot, the ECB says participating payment service providers cannot charge participating end users for pilot payment services.

For a possible future public digital euro, the legislative proposals envisage free basic consumer payment services.

Additional services may follow separate commercial arrangements, subject to the final legislation.

Could you earn interest on digital euros?

The proposed digital euro is intended primarily as a means of payment, not as an interest-bearing savings product.

DNB explains that the proposed digital euro would not pay interest on balances.

How much could you hold?

Holding limits are part of the proposed design to help protect financial stability.

The ECB has not established a final universal consumer holding limit for a publicly issued digital euro.

Separate limits will apply within the pilot, with details communicated through the relevant participant arrangements.

The proposed system also includes mechanisms that could allow payments to draw funds from linked commercial bank accounts when necessary.

10. Is the digital euro legally approved? What about 2029?

As of 30 October 2026, the legislation required for a possible publicly issued digital euro has not completed the full EU legislative process.

The European Commission presented its proposal in 2023.

The Council of the European Union agreed on its negotiating position in December 2025, and the European Parliament adopted its position in July 2026.

According to the ECB’s 6 October 2026 speech, negotiations between the EU institutions are now under way.

The ECB’s Governing Council will decide whether to issue the digital euro only after the necessary legislation has been adopted.

Is 2029 a confirmed launch date?

No. The ECB’s target is to be ready for a possible first issuance in 2029.

That target assumes the necessary EU regulation establishing the digital euro is adopted by the end of 2026.

Any delay in the legislative process could affect the timetable.

Even if the legislation is adopted on time, public issuance would still require a further ECB decision.

Consequently, the 2029 date should be described as a conditional planning target, not a guaranteed consumer launch.

Which rules govern the pilot?

The restricted beta digital euro pilot operates under relevant existing legal and contractual arrangements.

These include payment-services rules, data-protection requirements and applicable anti-money-laundering obligations.

It would therefore be inaccurate to describe the pilot as being governed by an already fully implemented EU regulation establishing a publicly issued digital euro.

11. Digital euro scam warning: fake invitations and websites

The ECB has published a warning about fraudulent emails, letters and websites claiming to offer digital euro investments or opportunities to join the pilot.

Some scams misuse the ECB’s name and appearance to seem official. Others request personal information, demand money or promise investment returns.

What should you do if you receive a suspicious invitation?

1. Do not click suspicious links or open unexpected attachments.
2. Do not upload identification documents or sensitive banking information.
3. Do not transfer money to activate a digital euro account.
4. Verify independently by visiting the ECB or DNB’s official website yourself.
5. Contact your bank promptly if you have disclosed account information or made a payment.
6. Report suspected fraud to the appropriate authorities. The ECB advises victims to contact local police.

For more practical advice, read our guide to bank helpdesk fraud, spoofing and AI-powered scams in the Netherlands.

You can also read the ECB’s official warning about misuse of its name and identity.

12. Frequently asked questions

Is the digital euro already available in the Netherlands?

No. As of 30 October 2026, the public digital euro has not been issued. Development continues, and a controlled pilot is planned for the second half of 2027.

When does the digital euro pilot start?

The ECB expects it to begin in the second half of 2027 and run for 12 months, with a possible extension of up to six months.

Can I register for the pilot using DigiD?

No general public registration process using DigiD has been announced. Be cautious about websites requesting DigiD credentials or identity documents for this purpose.

Are 5,000 Dutch residents being invited by email?

There is no substantiated ECB or DNB announcement supporting this claim. Individual pilot testers are employees of participating Eurosystem central banks.

Can international students or expats participate?

There is no open public application programme based on residence, nationality or student status.

Will Dutch banks offer digital euro wallets?

Regulated payment providers are expected to have a distribution role if the digital euro is introduced. But official digital euro wallets are not yet generally available to Dutch consumers.

Is the digital euro a cryptocurrency?

No. A future digital euro would be central bank money denominated in euros, not a privately issued cryptocurrency.

Is the beta digital euro legal tender?

No. The beta digital euro used for the pilot is a restricted testing instrument and will not have legal tender status.

What payment scenarios will the pilot test?

Four: online person-to-person transfers, offline NFC person-to-person payments, online NFC payments at physical points of sale, and online or mobile commerce payments.

Can I earn interest on digital euros?

The proposed public digital euro would be designed for payments, not interest-bearing savings.

Will the digital euro work offline?

Offline payments form an important part of the proposed design. The pilot will test offline person-to-person transactions using NFC.

Will the digital euro replace cash?

No. It is intended to complement euro cash and existing private payment methods.

Will the digital euro launch in 2029?

2029 is a conditional target for possible first issuance. It assumes the necessary legislation is adopted and the ECB subsequently decides to issue the digital euro.