Onome Amuge
The European Central Bank (ECB) has reached a major milestone in its preparations for a digital euro, signing framework agreements with technology partners that will design and implement its offline payment capability, a feature widely seen as a game-changer in the future of money.
The consortium selected by the ECB, led by German security technology company Giesecke+Devrient (G+D) in partnership with Italian payments group Nexi and consulting giant Capgemini, will deliver an end-to-end offline payments solution that allows digital euro transactions to be completed without internet connectivity, electricity, or banking intermediaries. The system will store money directly on users’ devices and settle payments locally, offering privacy and resilience comparable to cash.
For Europe, the project underscores an effort to secure monetary sovereignty in an era when private digital wallets and international card schemes dominate retail payments. ECB officials have long argued that the eurozone needs its own sovereign digital complement to cash, one that guarantees universal access and independence from non-European payment infrastructures. The digital euro, when launched, will therefore serve as both a tool of resilience and a symbol of economic autonomy.
“This milestone underscores our commitment to innovation and security in digital payment solutions while preserving the privacy and resilience that citizens expect from cash,” said Wolfram Seidemann, CEO of G+D Currency Technology.
The ECB has consistently portrayed the offline function as essential to building trust in the digital euro. In many eurozone regions, particularly rural or underbanked communities, access to stable internet and power is still uneven. By enabling payments anywhere, anytime, the offline solution aims to replicate the universality of cash while maintaining strict privacy safeguards.
The cooperation with G+D, Nexi, and Capgemini will feed into the Digital Euro Service Platform (DESP), the architecture that will underpin the new currency. The DESP will be developed under the guidance of the ECB Governing Council and aligned with EU legislative requirements, reflecting both technical complexity and political oversight.
Capgemini’s Joachim von Puttkamer sees the ECB partnership as a breakthrough in user-centric financial design: “We will ensure seamless implementation of the solutions. This assignment strengthens Capgemini’s position as a leading partner for digital transformation in the financial sector,” he said.
From a geopolitical perspective, the project highlights Europe’s intent to reduce reliance on U.S.-dominated payment infrastructures such as Visa, Mastercard, and SWIFT, while reinforcing the euro’s status as a global reserve currency.
The ECB has not yet set a definitive launch date for the digital euro, but with offline capabilities now under active development, momentum is building. Europe’s vision of a sovereign digital currency is becoming more tangible, and in the process, it is setting new benchmarks for how digital money can function.
