The Central Bank of Cyprus (CBC) says the digital euro is designed as an additional payment option rather than a replacement for cash. Payments director Stelios Georgakis, speaking to the Cyprus News Agency (CNA), describes the digital euro as the digital equivalent of existing banknotes and coins and a complementary instrument for payments. He states that the digital euro will support offline transactions, allowing payments to be made without an active internet connection. The CBC also says the rollout includes physical options for users who do not rely on smart devices, including physical cards. Georgakis adds that the CBC expects a full rollout by 2030, presenting the digital euro as a phased implementation. Across the coverage, the CBC position is that digital euro functionality will broaden payment choices while cash remains available. The articles therefore focus on the features planned for the digital euro—offline capability and provision of physical cards—as well as the expected timetable leading to a complete rollout by the end of the decade.
Cyprus Central Bank says digital euro will not replace cash
The Central Bank of Cyprus (CBC) says the digital euro is designed as an additional payment option rather than a replacement for cash. Payments director Stelios Georgakis, speaking to the Cyprus News...
- The CBC says the digital euro is an additional payment option and not a replacement for cash.
- The digital euro is described as the digital equivalent of banknotes and coins.
- It is expected to support offline transactions.
- The CBC says physical cards will be available for people who do not use smart devices.
- The CBC projects a full rollout by 2030.
The digital euro will offer offline transactions, physical cards for people who do not use smart devices and a full rollout by 2030, according to Central Bank of Cyprus (CBC) payments director Stelios Georgakis. Speaking to the Cyprus News Agency (CNA), Georgakis explained that the digital euro is essentially an additional payment option and represents the digital equivalent of banknotes and coins already in […]
18 hours agoDigital euro to offer offline payments by 2030 The digital euro will offer offline transactions, physical cards for people who do not use smart devices and a full rollout by 2030, according to Central Bank of Cyprus (CBC) payments director Stelios Georgakis. Speaking to the Cyprus News Agency (CNA), Georgakis explained that the digital euro […]
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