Overview
- The ECB said a pilot with initial transactions could begin in mid-2027, with the Eurosystem aiming to be ready for a potential first issuance in 2029.
- The schedule depends on the European Parliament, Council and Commission enacting legislation that provides the legal basis for a retail digital euro.
- Officials describe the project as a public alternative to card networks and stablecoins to strengthen Europe’s financial autonomy.
- Lawmakers have flagged concerns from banks about deposit outflows and setup costs, and some governments want holding limits and a final say on any launch.
- The ECB estimates industry costs of €4–5.77 billion and will continue work on the rulebook, privacy and anti-money-laundering arrangements, and technical infrastructure, with 2029 framed as a target rather than a guarantee.