Overview

• Officials are considering issuing a digital euro on public blockchains such as Ethereum or Solana, a shift reported by the Financial Times from earlier private‑ledger plans.
• The European Central Bank says it is evaluating both centralized and decentralized designs and has not chosen an architecture.
• Backers argue open networks could broaden circulation and cross‑border usability, while policymakers flag privacy and transparency risks on public ledgers.
• ECB executive board member Piero Cipollone has warned that dollar‑denominated stablecoins could drain euro deposits and weaken Europe’s financial autonomy.
• Any launch requires EU legislation, with preparation running to October 2025 and external timelines pointing to a political deal no earlier than 2026.