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The European Central Bank (ECB) is accelerating preparations to fully launch its digital euro project, outlining a detailed roadmap aimed at enhancing the independence and efficiency of Europe’s payment system.
According to Cointelegraph on February 18 (local time), Piero Cipollone, a member of the ECB’s Executive Board, announced key milestones for the issuance and operation of the digital euro at an event held in Brussels, Belgium. Cipollone stated that the preparation phase will be completed by 2026, including the selection of payment service providers (PSPs) and the finalization of operational rules. Starting in 2027, the ECB plans to begin large-scale pilot operations to test the digital euro’s functionality in real-world environments.
Although the digital euro project is currently in its preparation stage, the European Council is expected to establish the legal framework for its issuance in the second half of 2025. Cipollone emphasized that the digital euro will play a central role in strengthening the resilience of Europe’s payment infrastructure and reducing external dependencies. In particular, the plan includes introducing an offline payment feature that functions without an internet connection, ensuring a level of convenience and anonymity comparable to cash.
Addressing privacy concerns, Cipollone made it clear that the ECB is reinforcing privacy protections from the design stage to ensure that it cannot access individual users’ transaction histories or personal data. The digital euro will serve as a complement to, rather than a replacement for, commercial bank deposits. To safeguard financial stability, there are plans to set limits on the amount individuals can hold.
The issuance of the digital euro, aimed at facilitating smooth cross-border fund transfers among EU member states and accelerating the transition to a digital economy, is expected to have a significant impact on global discussions surrounding central bank digital currencies (CBDCs). Following the pilot phase and verification of the system’s stability and security, the ECB intends to eventually launch the digital euro to the public.
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