ECB advancing digital euro as legal tender across eurozone. KPMG analysis highlights transformative potential for Europe's financial system. The digital euro will function as risk-free public money alongside traditional cash, designed to strengthen monetary sovereignty and reduce dependence on non-European payment networks. Key benefits include universal financial inclusion with free basic transactions, offline functionality for accessibility during outages, and enhanced payment system resilience during crises. Banks and fintech companies can build innovative services including instant payments, programmable money, and seamless cross-border transfers. Financial institutions must act now through impact assessments, IT system upgrades for API integration and digital wallets, and active participation in ECB consultations.
