Central Bank Digital Currencies: a Comparative Analysis of the Chinese and European Union Models

The article explores alternative strategies for implementing central bank digital currencies (CBDC) using the example of the Chinese digital yuan (e-CNY)  and digital euro projects. The relevance of the work is due to the growing transformation of the global financial architecture and the competition between digital payment models. The aim of the study is a  comparison of architectural and institutional solutions in the PRC and EU projects to determine their impact on the prospects for international integration. Unlike standard descriptive approaches, this work analyzes the  institutional logic of «control-priority» and «coordination-priority» models, identifying structural  compromises between implementation speed, user rights protection, and potential for international  influence. The scientific novelty lies in the analysis of projects as of the end of 2025 through the prism of  risks of fragmentation of the global payment system. As a result, fundamental differences between the projects in the mechanisms for ensuring privacy and access to cross-border transactions are identified.

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