Digital Euro by European Central Bank: status and timeline

Milestones

Next · Digital euro pilot phase

ECB publishes digital euro policy proposals2023Complete.
EU Commission proposes digital euro regulation2023Complete.
EU Parliament ECON committee adopts digital euro mandate23 Jun 2026Complete.
Digital euro pilot phaseTarget Q3 2027Not yet reached.
First issuance and rolloutTarget 2029Not yet reached.

Most important updates

EU Parliament Committee on Economic and Monetary Affairs adopts digital euro mandate with 43–14 vote23 Jun 2026

Upcoming

Q3 2027Digital euro pilot phase (next)
2029First issuance and rollout

Current obstacles

Balancing privacy and regulationMust protect privacy while allowing authorities to detect financial crime.
Banking system integrationBanks must integrate the digital euro without disrupting deposits and lending.
Cybersecurity at continental scaleA 350-million-user system is a high-value target. Security architecture must be robust.

Physics limits

Network effects require coordinationFor digital euro to be useful, both consumers and merchants must adopt it. Adoption is slow without critical mass, creating a coordination problem.
Monetary policy is constrained by designDigital euros issued by the ECB reduce the ECB's ability to use some monetary policy tools that rely on banking intermediation.

How it works

4 parts

Issuance

ECB creates and manages supply

The ECB issues digital euros and controls the total supply, much like it does with physical currency, ensuring monetary stability and inflation control.

Distribution

Banks and payment providers handle access

Users open digital euro accounts through banks or authorized payment service providers, who interface with the ECB's backend systems.

Transactions

Direct transfers between users

Users can send digital euros to each other peer-to-peer or to businesses. Transactions are recorded on ECB ledgers but with privacy protections for users.

Offline use

Works without internet for low amounts

Plans include offline capability so users can transact without internet in emergencies, using a special chip in phones or cards.

Spec sheet

Spec	Digital Euro
Eurozone population	~350 million^R (reported)
Planned pilot duration	12 months^R (reported)
Pilot targeted for	H2 2027^R (reported)
First public issuance	2029^R (reported)

^R reported by the company

Update log

1 update

Tue 23 Jun

Major: EU Parliament Committee on Economic and Monetary Affairs adopts digital euro mandate with 43–14 votePressRegulatory

About European Central Bank

The team behind Digital Euro

European Central Bank

CBDC, central bank digital currency, Digital euro

The European Central Bank operates the digital euro CBDC. The EU Parliament adopted the mandate in June 2026 with a 43–14 vote.

A cash-like digital currency for the eurozone's 350 million residents and businesses.
EU Parliament adopted the mandate 43–14 in June 2026 with privacy safeguards.
Pilot in H2 2027, first issuance in 2029.

ecb.europa.eu (opens ecb.europa.eu)Company profile →

Founded: 199828 yrs
Headquarters: Germany
Status: Government
Valuation: government
Works in: CryptoStablecoins & tokenization
Coverage: 1 program · 1 updatelatest 23 Jun 2026checked 11 Oct
Partners: European Parliament
People: Christine LagardePresident, ECB

Spec

Digital Euro

Eurozone population

~350 million^R (reported)

Planned pilot duration

12 months^R (reported)

Pilot targeted for

H2 2027^R (reported)

First public issuance

2029^R (reported)