ECB official targets 2027 digital euro testing and possible 2029 launch
European Central Bank executive board member Piero Cipollone highlighted the digital euro as key to European sovereignty, stating the bloc is on track to pilot real transactions in 2027 with a potential rollout by 2029.
European Central Bank executive board member Piero Cipollone framed the digital euro as an essential tool to protect European sovereignty, according to reporting by Coin Telegraph. Cipollone stated that the European Union is on track to test real transactions in a pilot phase starting in 2027, with a formal rollout possible as early as 2029 pending legislation expected this year.[4][3]
The push for a central bank digital currency comes as European authorities seek to lessen the region's reliance on outside infrastructure. Non-European payment networks currently process two-thirds of card payments across the euro area.[1][2]
Key facts
- ECB executive board member Piero Cipollone called the digital euro key to protecting EU sovereignty.
- The European Central Bank is preparing to test real transactions in a digital euro pilot in 2027.
- A full digital euro rollout could arrive as early as 2029, pending legislation anticipated this year.
- Foreign payment networks currently handle two-thirds of card transactions in the euro area.
Sources · 4 sources
- SI
Solid Intel 📡@solidintel_xPost on X ·
INTEL: The ECB plans a digital euro pilot in 2027 and a possible 2029 launch to reduce Europe's reliance on foreign payment networks handling two-thirds of card payments https://t.co/efGFD4UPxO
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🇪🇺 LATEST: The ECB says the digital euro is about "sovereignty," with a pilot next year and a rollout as early as 2029. Two-thirds of euro-area card payments currently run through non-European companies. 👀 https://t.co/G0K6dtxTmK
Open source - LD
Lark Davis@LarkDavisPost on X ·
ECB board member Piero Cipollone says the digital euro is all about "European sovereignty." Of course he’d say that. Name a central bank on the planet that willingly hands over the reins to outside payment networks. When two-thirds of transactions bypass their direct grip, calling it a "strategic vulnerability" is just polite central-banker speak. It's a threat to their core franchise. Pilot in 2027. Rollout by 2029. Protecting your sovereignty? Yeah, right.
Open source - CT
Coin TelegraphArticle ·
ECB official sees digital euro as key to protecting EU ‘sovereignty’ Piero Cipollone said the bloc is on track to test real transactions in 2027 and roll out a digital euro as early as 2029, pending legislation this year.
Open source