The European Central Bank is still targeting 2029 for the possible introduction 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 from the second half of 2027. Thirty-six payment providers will participate in the trials. The final launch, however, depends on the adoption of European legislation, expected before the end of the year.
In brief
- The ECB is targeting a possible first issuance of the digital euro in 2029.
- A twelve-month pilot will begin in the second half of 2027 with 36 providers.
- Thirteen eurozone countries are entirely dependent on foreign players for their in-store card payments.
The ECB maintains its launch target in 2029
Piero Cipollone confirmed the timetable on Thursday, during a conference dedicated to payment infrastructures. The ECB had already announced the first stages of the digital euro for 2027. Its new speech provides details on the conditions necessary for an issue in 2029.
The timetable depends first of all on the European institutions. The Council of the European Union adopted its position in December 2025. The European Parliament followed in July 2026. The two institutions are now negotiating with the European Commission as part of the interinstitutional discussions.
The objective remains to reach an agreement before December 31. If this timetable is respected, the ECB could be technically ready to issue the digital euro in 2029. The final decision, however, will rest with its Governing Council, after the adoption of the regulation.
No broadcast has therefore yet been authorized. The digital euro will take the form of an electronic currency directly issued by the Eurosystem. Unlike private cryptos, its value will not fluctuate freely on crypto markets.
A digital euro will be worth one euro. Users could make payments in store, on the Internet or between individuals. The system would complement existing cash and means of payment, without replacing notes and coins. The ECB also plans payments without an Internet connection, with basic use free for consumers.
A twelve-month pilot with 36 payment providers
The next concrete step will arrive in the second half of 2027. The ECB has selected 36 payment service providers after receiving more than 50 applications. Participants include Deutsche Bank, UniCredit, Revolut, Stripe and Adyen.
The experiments will last twelve months and will also involve staff from the ECB, those from 19 national central banks and selected traders. In September, the institution had already invited European traders to participate in the tests of the digital euro. Applications closed on October 27, and review continues.
The tests must reproduce everyday situations. An employee can pay for their meal in a cafeteria, make a purchase on a merchant site or transfer money to a colleague. The teams will also test refunds, mobile payments and some offline operations.
The version used will be experimental. It will not yet constitute a legal tender central bank digital currency. In particular, providers will need to check the speed of transactions, integration with banking systems and ease of use. The objective goes beyond a simple technical demonstration. The ECB wants to test the interactions between banks, merchants, payment infrastructures and consumers.
This phase will also make it possible to identify malfunctions before possible release into circulation. The crypto sector will follow this work, particularly due to growing competition between public digital currencies, stablecoins and private payment solutions.
Europe wants to reduce its dependence on foreign networks
Piero Cipollone’s speech provides a particularly revealing figure. Today, 13 eurozone countries are entirely dependent on non-European companies for in-store card payments.
This dependence particularly concerns international networks, including Visa and Mastercard, which are widely used in daily transactions. The ECB wants to propose a common European infrastructure, capable of operating in all countries of the euro zone.
The project does not plan 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, including Tether’s USDT and Circle’s USDC, are denominated in US dollars. Their adoption could accentuate the place of the dollar in certain digital payments, even outside the United States. The digital euro would pursue a different logic: allowing residents of the euro zone to directly use a digital form of central bank money for their current transactions.
The project nevertheless raises questions about the confidentiality of transactions, the role of commercial banks and the protection of personal data. The ECB has already responded to concerns over monitoring of digital euro payments, without shutting down all debates on privacy. Legislative negotiations will need to specify the applicable guarantees. For now, the next deadline remains the 2027 pilot. The 2029 date remains a conditional objective, not a final launch decision.
Maximize your Tremplin.io experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
