ECB Targets Digital Euro Issuance in 2029, Pilot Planned for Second Half of 2027

European Central Bank Executive Board member Piero Cipollone said a digital euro pilot is planned to begin in the second half of 2027 and run for 12 months. According to Odaily, 36 service providers will participate in the pilot, which will test the technology and coordination among providers, merchants, central banks, infrastructure operators and users. Legislative negotiations on the digital euro are underway among the European Parliament, the Council of the European Union and the European Commission, and are expected to conclude this year. If the talks are completed successfully, the ECB aims to issue the digital euro in 2029.