Digital Euro Unlocked – Report 2026
In the "Digital Euro Unlocked" Report of 2026, msg for banking and Infineon Technologies deliver a strategic, multi-stakeholder analysis of Europe's evolving central bank digital currency (CBDC) landscape. Tailored for banks, payment service providers (PSPs), and infrastructure operators, the report addresses the core question: What will it take for the digital euro to earn trust and relevance in daily life?Beyond the analysis, this report includes expert contributions from Fraunhofer FIT, Worldline, and the German Retail Association (HDE). It translates regulatory, technological, and market perspectives into concrete guidance – helping stakeholders design a secure, privacy-preserving, and user-centric digital euro that supports Europe’s goals for digital sovereignty.
Digital Euro Unlocked - Report 2026
Our report offers banks, PSPs and market participantsa clearer understanding of the implications,responsibilities and strategic decisions they may faceas Europe moves toward a potential retail CBDC – allgrounded in a customer-centric view of the digital euro.
A European Central Bank digital currency can only succeed if strategic vision and practical implementation go hand in hand. With our market experience and technological expertise, msg for banking is ready to help make a future-proof digital euro a reality.
Dr. Frank Schlottmann Chairman of the Executive Board, msg for banking
The Digital Euro Is Coming – But Will It Be Accepted?
As Europe’s most ambitious payments initiative moves forward, one question stands at the center: How will the digital euro earn trust in everyday use?
The new report by msg for banking and Infineon Technologies examines this question from multiple angles. It looks beyond technical architecture to explore how digital money is being shaped in Europe, from the ECB’s strategic roadmap to privacy design options, security foundations, and the real experiences of consumers, banks, merchants, and payment providers.
Insights from research and financial institutions, industry experts, and market practitioners – including Infineon Technologies, Fraunhofer FIT, Worldline and the German Retail Association (HDE) – shed light on what drives acceptance, where concerns emerge, and which practical decisions will influence the digital euro’s path into daily life.
Discover why the digital euro is more than just another payment instrument and how it could reshape discussions around trust, privacy, infrastructure, and the roles of market participants across Europe.
Read now to understand the developments that may shape the digital euro and what they could mean for the payments ecosystem. Learn what financial institutions must consider and the key questions shaping their roadmap to adoption.
Trust will be the true currency of a digital euro. Our report highlights where this trust is built, where it is challenged, and what it will take for the digital euro to find its place in daily life.
Markus Nenninger Branch Head Payments, msg for banking
Method and Objective
Our Approach
This report combines a customer-centric analysis of the digital euro with technical, regulatory, and market-side perspectives. Drawing on expert insights from research institutions, PSPs, technology providers, and merchants, it maps the complete customer journey of Europe’s potential new CBDC, from awareness to onboarding, everyday usage, and long-term retention.
Our Purpose
The purpose of this report is to define what the introduction of the digital euro means for banks and PSPs: which expectations users have, where strategic opportunities emerge and what capabilities institutions must develop to ensure successful adoption. Ultimately, the report aims to provide actionable guidance for designing digital euro services that deliver real value to customers and strengthen Europe’s payment ecosystem.
Digital Euro Unlocked - Report 2026
Digital Euro Unlocked delivers expert perspectiveson trust, adoption, and readiness for Europe’sCBDC future.
Digital Euro Unlocked
A User-Centric View on Design, Trust and Real-World Adoption
The 2026 Report on Europe’s CBDC by msg for banking and Infineon
Publisher: msg for banking and Infineon Technologies
Developed in collaboration with Infineon Technologies and enriched by contributions from research institutes, payment providers, payment experts, and financial institutions, this report reflects a multi-stakeholder view on the digital euro and aims to foster dialogue and provide actionable insights for market participants.
Infineon Technologies AG is a global leader in security solutions for the payment market. As a key contributor to the “Digital Euro Unlocked” report, Infineon brings deep expertise in Secure Elements, digital identities, and cryptographic hardware – technologies that form the foundation for a secured and privacy-compliant digital euro. With decades of experience in enabling trusted payments and digital infrastructures, Infineon is shaping the technical safeguards needed for Europe’s CBDC future.
Table of Contents
//Foreword
//How Europe’s Digital Money Is Created
//Decoding Privacy Design Options of CBDCs (Fraunhofer FIT)
//Securing the Digital Euro (Infineon Technologies)
//The Digital Euro Customer Journey
//Preparing Banks for the Digital Euro’s New Rail (Worldline)
//Perspectives from the Acceptance Side – incl. an Interview with HDE
//Summary and Guidance – Key Levers for Digital Euro Adoption
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