- The European Parliament approved digital euro development.
- Aimed at monetary independence from non-EU providers.
- Focus on online and offline euro usability.
The European Parliament endorsed a digital euro with online and offline capabilities on February 10, 2026, highlighting monetary independence from Visa and Mastercard. MEP Pasquale Tridico, leading the amendment, criticized dependence on American financial entities.
Pasquale Tridico and 48 EU lawmakers led the February 10, 2026, move in the European Parliament to endorse a digital euro proposal that includes both online and offline capabilities.
The decision signifies a shift towards reducing reliance on American services like Visa and Mastercard, enhancing monetary sovereignty across the EU with a digital currency format.
Proposal Details
The European Parliament approved amendments that support a digital euro capable of both online and offline transactions, part of an ECB report for 2025. This aligns with earlier positions by the European Council and European Commission. The proposal, led by Italian MEP Pasquale Tridico and supported by various political groups, addresses Europe’s dependency on American payment systems. The amendments emphasize monetary sovereignty and reduced reliance on external digital payment providers.
Political and Market Implications
No immediate market effects on cryptocurrencies or assets like BTC and ETH have been reported. However, the digital euro aims to complement existing cash and encourages the installation of “digital euro-ready” terminals across Europe. Politically, the move fortifies EU financial independence, reducing dependency on corporations such as Visa and Mastercard. Socially, it aims to provide security and privacy in digital transactions as emphasized by the ECB. “Today we are totally dependent on the big American players – Visa and Mastercard – and this makes the EU weak and dependent on Trump’s decisions,” said Pasquale Tridico, MEP, Five Stars Movement.
Technological Objectives and Future Legislation
The European Central Bank proposes privacy and offline functionality for the digital euro. The launch is targeted for 2029 pending necessary legislation. No reactions from major crypto influencers or detailed public crypto data were detailed. The potential implementation of a digital euro underscores the EU’s focus on modernizing its monetary infrastructure, offering both online and offline functionality. Lawmakers emphasize privacy and independence as technological objectives. Immediate legislation is required for further progression towards deployment.
