It became known when a single European cryptocurrency will appear

The European Central Bank (ECB) has set a tentative timeline for the launch of the digital euro, the central bank’s single digital currency for the eurozone. According to Piero Cipollone, a member of the ECB Executive Board, mid-2029 is a «fair and realistic deadline» for the project’s full market launch.

However, the implementation of these plans directly depends on the legislative approval of the EU institutions. The ECB expects to receive the necessary regulatory approval no later than June 2026. After that, it will take another 2.5 to 3 years of technical and organizational preparation before the first issue.

In the summer of 2026, the regulator also plans to introduce technical standards for the integration of the digital euro into the payment infrastructure. These standards will cover requirements for service providers, terminal operators, and payment applications. The pre-selected counterparties will be notified at the end of June 2026.

Pilot testing is scheduled for the second half of 2027 and will last approximately 12 months. The pilot will involve a limited number of payment service providers, merchants, and Eurosystem employees. The plan is to test online and offline payments between individuals, as well as payments between buyers and sellers, both in brick-and-mortar stores and in e-commerce.

Cipollone identified four key areas of work on the project:

• Inclusivity and accessibility — the digital euro should be convenient even for people with disabilities, including the visually impaired.
• Stimulating innovation — the CBDC should facilitate the development of new financial products and services.
• Integration into the payment system — development of standards for the joint circulation of cash and digital euros.
• Pilot project — testing the CBDC’s capabilities in real but controlled conditions.

The main impetus for accelerating work on the digital euro was geopolitical tensions between the EU and the United States. According to the ECB, in 2022, the American payment systems Visa and Mastercard processed almost two-thirds of card transactions in the euro area. 13 EU countries have no national alternative at all. In such circumstances, ECB President Christine Lagarde has positioned the digital euro as an instrument of monetary sovereignty and protection against external pressure.

At the same time, the ECB announced a competition to attract specialists to working groups to create a set of rules for the digital euro. Applications will be accepted until April 10, 2026. It is emphasized that the final version of the document will depend on the results of the legislative process in the EU. The ECB Governing Council will make the final decision on the issuance of the digital euro only after the relevant legislation is officially adopted.