The European Central Bank still aims for 2029 for a possible launch of the digital euro. In a speech delivered on November 5, 2026, Piero Cipollone, member of the ECB Executive Board, confirm
The European Central Bank still aims for 2029 for a possible launch of the digital euro. In a speech delivered on November 5, 2026, Piero Cipollone, member of the ECB Executive Board, confirmed a twelve-month pilot program starting from the second half of 2027. Thirty-six payment providers will participate in the trials. However, the final launch depends on the adoption of European legislation, expected before the end of the year.
Piero Cipollone confirmed the schedule on Thursday during a conference dedicated to payment infrastructures. The ECB had already announced the first steps of the digital euro for 2027. His new speech provides details on the conditions necessary for an issuance in 2029.
The schedule first depends on European institutions. The Council of the European Union adopted its position in December 2025. The European Parliament followed in July 2026. Both institutions are now negotiating with the European Commission within the framework of inter-institutional discussions.
The goal remains to reach an agreement before December 31. If this schedule is respected, the ECB could be technically ready to issue the digital euro in 2029. The final decision will however belong to its Governing Council after the regulation’s adoption.
No issuance has been authorized yet. The digital euro will take the form of electronic money directly issued by the Eurosystem. Unlike private cryptocurrencies, its value will not fluctuate freely on crypto markets.
One digital euro will be worth one euro. Users could make payments in stores, on the internet, or between individuals. The system would complement cash and existing payment methods without replacing banknotes and coins. The ECB also plans payments without internet connection, with a basic free use for consumers.
Your 1st cryptos with BitgetThis link uses an affiliate program.The next concrete step will come in the second half of 2027. The ECB selected 36 payment service providers after receiving over 50 applications. Deutsche Bank, UniCredit, Revolut, Stripe, and Adyen are among the participants.
The experiments will last twelve months and will also involve ECB staff, that of 19 national central banks, and selected merchants. In September, the institution had already invited European merchants to participate in digital euro tests. Applications closed on October 27, and their review is ongoing.
The trials are intended to replicate everyday situations. An employee could pay for a meal in a cafeteria, make a purchase on an e-commerce site, or transfer money to a colleague. Teams will also test refunds, mobile payments, and some offline operations.
The version used will be experimental. It will not yet constitute a central bank digital currency with legal tender. Providers will need to verify the speed of transactions, integration with banking systems, and ease of use. The goal goes beyond simple technical demonstration. The ECB wants to test interactions between banks, merchants, payment infrastructures, and consumers.
This phase will also help identify dysfunctions before any possible issuance. The crypto sector will follow this work, notably because of the growing competition among public digital currencies, stablecoins, and private payment solutions.
Your 1st cryptos with BinanceThis link uses an affiliate program.Piero Cipollone’s speech provides a particularly revealing figure. Today, 13 euro area countries rely entirely on non-European companies for in-store card payments.
This dependence notably concerns international networks, including Visa and Mastercard, widely used in daily transactions. The ECB wishes to offer a common European infrastructure able to operate in all euro area countries.
The project does not intend to ban foreign solutions. It would offer an alternative to banks, merchants, and individuals. The institution also wishes to facilitate the development of new payment services and preserve European monetary sovereignty.
The rise of stablecoins reinforces this concern. The main assets in this category, notably Tether’s USDT and Circle’s USDC, are denominated in U.S. dollars. Their adoption could intensify the dollar’s role in some digital payments, even outside the United States. The digital euro would follow a different logic: enabling residents of the euro area to directly use a digital form of central bank money for their everyday transactions.
The project nevertheless raises questions about transaction privacy, the role of commercial banks, and personal data protection. The ECB has already addressed concerns about surveillance of digital euro payments, without closing all debates on privacy. Legislative negotiations will have to specify the applicable guarantees. For now, the next milestone remains the 2027 pilot. The 2029 date remains a conditional goal, not a definitive launch decision.
