Overview
- Late September reporting shows the ECB published the DEAN technical design that gives each digital‑euro wallet an 18‑character Digital Euro Account Number beginning with “EU” and marking private or business use.
- The DEAN will be issued centrally via the Digital Euro Service Platform after a provider onboards a user and providers must tell customers their DEAN and print it on issued payment cards.
- The ECB has picked banks and payment firms for a 12‑month pilot set to begin in the second half of 2027 to test issuance, wallet flows and user interfaces.
- The DEAN will not replace the IBAN; everyday payments are expected to use friendly aliases like phone numbers and the system will use anonymized unique identifiers to limit direct central‑bank access to user identities.
- Policy choices still to be decided include proposed private‑wallet caps around €500–€3,000, a non‑interest design and the national and EU legal steps required before any phased public rollout, which planners see as earliest feasible in 2029.