Global comparison
Visitors often ask how the digital euro stacks up against China's e-CNY, Sweden's e-krona, the Bahamas' Sand Dollar, the proposed UK digital pound, and a stablecoin like USDC. Below is a sourced, side-by-side comparison. Uncertain values are marked, never guessed. Verified as of 29 July 2026.
| Currency | Status | Timing | Privacy model | Offline | Intermediated | Holding limit |
|---|---|---|---|---|---|---|
Digital euro European Central Bank Eurozone (20 countries) | In negotiation | No date confirmed | Intermediated. The ECB would not see personal transaction data; offline payments designed to be cash-like. | Planned (not yet built) | Yes — banks and payment providers | Proposed — amount under negotiation |
e-CNY (digital yuan) People's Bank of China China (mainland) | Pilot (live) | 2020 (pilot) | “Controllable anonymity”: small-value payments anonymous, larger-value payments traceable to identity. | Yes (dual-offline mode) | Yes — authorised operators and banks | Yes (tiered, varies by region) |
e-krona Sveriges Riksbank Sweden | Pilot (closed) | 2020 (pilot) | Under design; several privacy options explored, not finalised. | Explored | Not yet decided | Not yet decided |
Sand Dollar Central Bank of The Bahamas The Bahamas | Launched | 2020 | KYC-based; transaction data held by the central bank. Tiered wallets for lower-KYC balances. | Yes (wallet works offline) | Yes — authorised financial institutions | Yes (e.g. B$500 for basic wallets) |
Digital pound Bank of England (with HM Treasury) United Kingdom | Development | No date confirmed | Privacy by design proposed; details not finalised. | Planned | Yes — proposed model is intermediated | Proposed £10,000–£20,000 initially |
USDC (stablecoin) Circle Global (US-dollar pegged) | Live (private) | 2018 | Not a CBDC. Transfers on public blockchains are traceable; custody is with private firms. | No (requires blockchain network) | Private issuers and exchanges | None |
European Central Bank
People's Bank of China
Sveriges Riksbank
Central Bank of The Bahamas
Bank of England (with HM Treasury)
Circle
Digital euro
EU regulation still in trilogue. A pilot could follow adoption; a separate ECB decision to issue would be needed.
European Central Bank ↗e-CNY (digital yuan)
Live retail pilots across multiple cities since 2020. No fixed national launch date has been announced.
People's Bank of China — e-CNY white paper ↗e-krona
A technical pilot ran from 2020; the Riksbank has not decided whether to issue an e-krona.
Sveriges Riksbank ↗Sand Dollar
Launched nationally in October 2020 — the first full retail CBDC rollout. Adoption has been limited.
Central Bank of The Bahamas ↗Digital pound
Design phase following a 2023 consultation. No decision to build or issue has been taken.
Bank of England ↗USDC (stablecoin)
A privately issued stablecoin pegged to the US dollar, not central bank money. Included as a contrast.
Circle ↗The digital euro is the only one of these in active EU-wide legislative negotiation. The e-CNY and Sand Dollar are the furthest along in real-world use; the others are research, pilot or design phases. Stablecoins like USDC are a different category entirely — private money, not central bank money.