ECB eyes digital euro pilot in 2027 and rollout in 2029

The European Central Bank (ECB) is targeting mid-2027 to begin pilot testing for the digital euro, with an initial issuance planned for 2029, according to Executive Board member Piero Cipollone. The project is currently in the technical readiness phase, focusing on infrastructure building and testing, which will culminate in a 12-month pilot involving banks and retailers testing specific transaction scenarios. The final rollout depends on EU legislators finalizing regulations this year. The digital euro will operate alongside physical cash, with users accessing it through licensed banks and payment providers. The system will use a centralized settlement platform managed by the Eurosystem and incorporates design principles inspired by distributed ledger technology for resilience, while also ensuring accessibility for people with disabilities through a partnership with the ONCE Foundation. The ECB views this initiative as crucial for safeguarding European monetary sovereignty against reliance on non-EU payment networks.

(Source：Crypto Briefing)