#What is the timeline for the digital euro's launch?
The European Central Bank has set a target for mid-2029 to potentially launch its digital euro. This proposed central bank digital currency, or CBDC, aims to serve as an electronic counterpart to traditional cash, facilitating daily transactions across the eurozone.
As the issuer of monetary policy for the 20 countries in the euro area, the European Central Bank is advancing with the digital euro initiative, which was initiated in response to the growing popularity of cryptocurrencies such as Bitcoin. Executive Board member Piero Cipollone emphasizes that achieving this mid-2029 target is a concrete milestone in the development of the digital euro.
#How is the digital euro being developed?
Since late 2023, the ECB has been in a preparation phase focused on technical advancements and drafting EU-wide legislation to ensure that the digital euro adheres to privacy standards and anti-money laundering regulations. This phase is crucial to shaping the final design, which is expected to be concluded by 2026.
#Why is the ECB pursuing a digital euro?
The digital euro initiative was launched as a direct response to the rise of decentralized cryptocurrencies and the need to maintain monetary sovereignty within an increasingly digital financial landscape. With over 130 countries investigating or developing CBDCs as of 2025, the ECB seeks to position itself effectively within this evolving market.
The notable success of China’s digital yuan, which has already handled billions in transactions since its launch in 2020, underscores the global transition to digital payments and reflects a noticeable decline in cash usage.
#What are the public's views on the digital euro?
While the potential launch of the digital euro is an exciting development, public sentiment appears mixed, particularly in relation to concerns about privacy. As the ECB balances technological innovation and public trust, ongoing surveys will help gauge the European populace's readiness for this forthcoming change.