The European Central Bank (ECB) expects the first transactions using a digital euro to take place in mid-2027, provided EU lawmakers approve the necessary legislation next year. Executive Board member Piero Cipollone told the European Parliament that the ECB is working “systematically” to ensure the technical readiness of the project, stressing that no final decision on issuing the digital currency will be made until the legal framework is in place.
Cipollone said a pilot rollout could begin following legislative approval, paving the way for an initial issuance in 2029. He argued that consumers, merchants and banks will all benefit from the new payment instrument, adding that reduced reliance on non-European payment providers would strengthen the continent’s resilience, autonomy and financial security.
Addressing concerns raised by some banks about potential higher costs, Cipollone countered that European lenders already lose significant commission revenue to international card and payment networks. With the digital euro, he said, a “compensation model will ensure banks benefit.”
The digital euro, he noted, will function as a digital form of cash complementing existing banknotes and coins, ensuring physical and digital payments remain reliable “without depending on decisions made outside Europe.” The system will be built entirely on European infrastructure and operated by EU-based providers.
Cipollone added that the initiative will safeguard monetary sovereignty amid the growth of stablecoins—mostly denominated in foreign currencies—and unbacked cryptocurrencies. Both online and offline capabilities of the digital euro will work together, he said, blending the convenience of digital payments with the resilience of cash, enabling use “from e-commerce platforms to remote areas without network coverage.”
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