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ECB's Cipollone says digital euro pilot due in second half of 2027
ECB executive board member Piero Cipollone says the digital euro pilot will run for 12 months from the second half of 2027, with issuance targeted for 2029 if talks conclude in 2026.
Why it matters: The timetable sets when a major central bank digital currency could reach European consumers, as the ECB frames it as a counter to stablecoin growth.
Key points
- Piero Cipollone says the digital euro pilot starts in the second half of 2027 and runs for 12 months.
- Issuance is targeted for 2029, contingent on negotiations concluding successfully by year-end.
- 36 service providers have been selected to take part in the pilot phase.
The European Central Bank is still targeting 2029 for issuing the digital euro, with a 12-month pilot due to begin in the second half of 2027, according to executive board member Piero Cipollone.
Cipollone said the digital euro addresses Europe's fragmented payments landscape, in which 13 countries depend on non-European companies for in-store card payments. He described it as a platform for innovation rather than only a remedy for existing gaps.
ECB President Christine Lagarde has previously pointed to a 2028-2029 launch, dependent on the regulation being settled before year-end.
Lagarde has promoted the digital euro as a counter to growing stablecoin use, warning that wider adoption of such tokens could weaken central banks' ability to conduct monetary policy because they sit outside the traditional fiat system.
Live updates on NewsFeeds:MacroStablecoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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