ECB's Cipollone: digital euro could be issued in 2029 if law passes in 2026
The ECB board member said a 12-month pilot with 36 payment service providers will start in the second half of 2027.
STABLECOINS & CBDC
Hana Kimura
10/6/20261 min read
ECB Executive Board member Piero Cipollone said on October 6 that the central bank aims to be ready for a potential first issuance of the digital euro in 2029, provided EU legislation is adopted in 2026. Speaking in Frankfurt, he said the Council agreed its position in December 2025, the European Parliament adopted its own in July 2026, and trilogue negotiations are underway.
A 12-month pilot is scheduled to start in the second half of 2027. The ECB selected 36 payment service providers from more than 50 applications, and a call for online and mobile merchants opened on September 15. Cipollone stressed that the Governing Council will decide whether to issue a digital euro only after the legislation is adopted.
He also presented modelling of holding limits between €500 and €3,000 across 2,025 banks. At a €3,000 limit, the aggregate liquidity coverage ratio would fall only slightly, from 166% to 163%. “The digital euro is therefore not designed to disintermediate banks,” he said. Cipollone noted that two-thirds of euro area card payments rely on international schemes.
Source: European Central Bank.