EU Parliament Backs Dual-Mode Digital Euro to Counter US Payment Giants

Edgen Crypto

·Feb 10 2026, 18:41

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Key Takeaways

The European Parliament has advanced plans for a digital Euro by supporting a dual-mode version that functions both online and offline. This decision aligns with the European Central Bank's vision and strengthens the project's strategic goal of increasing the bloc's financial autonomy.

The European Parliament approved an amendment for a digital Euro with both online and offline functionality, increasing the likelihood of its launch.
A primary objective is to enhance the EU's monetary sovereignty and reduce its dependency on U.S. payment firms like Visa and Mastercard.
The move overturns a previous legislative proposal that had advocated for an offline-only version, signaling unified support with the European Central Bank.

Parliament Endorses Dual-Mode Digital Euro

The European Parliament's Economic and Monetary Affairs Committee (ECON) has approved a key amendment, formally supporting the creation of a digital Euro with both online and offline capabilities. This legislative progress brings the project more in line with the model consistently advocated by the European Central Bank (ECB), significantly boosting the probability of a dual-mode framework being implemented. This decision marks a pivotal shift from a previous proposal by the lead lawmaker on the file, which had suggested creating only an offline version of the digital currency.

Digital Euro Aims to Cut Reliance on US Payment Giants

Lawmakers view the digital Euro as a critical tool for reinforcing the European Union's monetary sovereignty and ensuring the resilience of its single market. According to the Parliament, a central bank digital currency (CBDC) would help reduce fragmentation within the continent's retail payment systems. The European Central Bank has explicitly stated a goal of diminishing Europe's strategic dependence on U.S.-based payment giants, including Visa and Mastercard. This push for financial autonomy has gained urgency as supporters of the project seek to insulate the European economy from potential shifts in transatlantic relations.