PANews reported on December 3rd that according to The Block, the European Central Bank (ECB) released the second progress report on its digital euro project, outlining the latest work on the unified euro area digital payment system. The report updated the digital euro plan rulebook, including minimum user experience standards and risk management frameworks, and conducted user research to understand preferences to provide support for the potential release of the digital euro.

The report points out that the ECB will work with merchants, payment service providers, fintech companies and universities to test innovative use cases such as conditional payments, and the research results are expected to be announced in July 2025. In addition, the ECB has completed the solicitation of applications for digital euro components and related service providers, and the results will be made public in 2025. The report emphasizes that the digital euro will provide consumers and merchants with fair fees and high privacy protection, and support the future development of the European payment system.