Digital euro pilot in the second half of 2027... 2029 issuance depends on legislative variables

The European Central Bank plans a 12-month digital euro settlement pilot starting in the second half of 2027, with a potential first issuance in 2029 contingent on EU legislation being finalized by end-2026. ECB executive board member Piero Cipollone, speaking in Tirana, framed the initiative as placing central bank money as a public foundation for digital payments and tokenized finance. The digital euro is designed as central bank-issued digital cash that supplements rather than replaces banknotes and coins, usable for in-store, online and person-to-person payments, including offline when there is no internet connection. The timeline matters because the 2029 issuance hinges on the legislative process, making the EU's adoption of the enabling framework the key variable to watch.