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Payments: research and development

DNB conducts research on the payment system. For example, we have projects on the development of banknotes.

Banknote research and development

The ECB coordinates and finances research and development projects for the production of banknotes. Many projects are executed by public and private institutions. They do so independently or in cooperation with the ECB, DNB and the other central banks of the Eurosystem.

Research areas

There are projects in the following areas:  

- authenticity features of banknotes

- production processes and technology for banknote handling

- technologies to minimise the ecological footprint of cash and money supply


Many projects are carried out by or in collaboration with public and private institutions. Are you interested in getting on board? Explore the opportunities.

Research on the digital euro

DNB and the Eurosystem are currently exploring the possibilities for a digital euro. Read more about this project.

Our banknote and coins issuance: the numbers

Our total net banknote issuance has long been negative: every year, the banks returned more notes to us than we put into circulation through the banks. Part of the reason for this is tourism. After tourists spend banknotes that were put into circulation in other euro area countries, banks return the notes to us. This trend reversed in 2020, however, and we have issued more banknotes than we receive since then. To see the cumulative net issuance numbers for banknotes and coins (expressed in value terms and broken down by denomination) go to the download.

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