European Parliament approves framework for a digital euro, paving the way for ECB trials in 2027 and potential rollout by 2029
Executive summary: The European Parliament adopted the regulation that creates the legal foundation for a digital euro, authorizing the European Central Bank to start pilot tests in 2027 and targeting full deployment by 2029. A digital euro could reshape retail payments in the Eurozone, reduce reliance on private card networks, and require significant updates to banking infrastructure while influencing monetary policy transmission. European Parliament, European Central Bank, euro‑area national central banks, banks and payment service providers, EU regulators. The EU Council will finalize the regulation, the ECB will publish technical specifications for a pilot phase, and private sector players will begin testing interoperability with the digital euro prototype.
The regulation passed with a large majority, establishing the legal basis for a central bank digital currency in the euro area. It specifies that the European Central Bank may begin experimentation in 2027, with the aim of having the digital euro operational by 2029. The move reflects growing interest in state-backed digital payments amid declining cash use and rising private stablecoin initiatives. Implementation will require coordination among banks, payment service providers, and regulators to ensure interoperability and security.
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