ECB Advances Digital Euro Plan Toward 2029 Launch

The European Central Bank is aiming to roll out its digital euro in 2029, subject to lawmakers agreeing on a final regulatory structure, Bloomberg reported.

The ECB has been exploring a central bank digital currency since 2020 and entered its preparation phase in late 2023. While that phase concludes this month, work will continue as policymakers shape legislation needed to support issuance and distribution.

The project has encountered resistance from European banks, politicians and citizens concerned about privacy, surveillance risks and disruption to commercial banking. Legislation before the European Parliament has been delayed amid political shifts and the 2024 elections.

ECB executive Piero Cipolloni recently identified mid-2029 as a feasible launch window and forecast parliamentary approval by 2026.

Supporters say a digital euro would guarantee universal access to free, secure digital payments, even during crises such as cyberattacks or war. Critics remain wary of its potential impact on the private financial sector.

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