ECB Confirms Digital Euro Launch Set for 2029
Once the regulatory framework is approved, the ECB estimates it will need two to three years to develop and officially launch the CBDC.
Quick overview
- The European Central Bank aims to launch the digital euro by 2029, with legislative work expected to begin after May 2026.
- Nine major European banks are collaborating on a euro-denominated stablecoin, set to debut in the second half of 2026 under the MiCA regulatory framework.
- The stablecoin project aims to create a secure and transparent payment system, reducing reliance on dollar-based stablecoins and enhancing Europe's financial infrastructure.
- The consortium behind the stablecoin is open to more financial institutions and plans to appoint a CEO soon, pending regulatory approval.
The European Central Bank (ECB) has set 2029 as the target date for launching the digital euro, Executive Board member Piero Cipollone confirmed. The initiative aims to provide an electronic version of the euro to facilitate everyday transactions across the eurozone.
Cipollone noted that the European Parliament, Council, and Commission could finalize their respective positions by May 2026, after which joint legislative work would begin. Since late 2023, the ECB has been in a preparation phase combining technological development with the rollout of EU-wide legal frameworks to ensure compliance with privacy rules and anti–money laundering safeguards.
Once the regulatory framework is approved, the ECB estimates it will need two to three years to develop and officially launch the digital euro.
Stablecoin Set to Debut Under MiCA in 2026
Meanwhile, nine leading European banks — including CaixaBank and ING — announced a joint project to develop a euro-denominated stablecoin operating under the EU’s MiCA regulatory framework.
The token is scheduled for release in the second half of 2026 and aims to become a reliable payments standard within Europe’s digital ecosystem. It will be issued by a newly formed Netherlands-based company that will apply for an e-money license with the Dutch Central Bank, which will supervise compliance with MiCA. Requirements include 1:1 reserve backing and quarterly audits.
Central Bank Digital Currency Goals
The project’s goal is to build a secure, transparent, and EU-aligned payment system, reducing reliance on dollar-based stablecoins. The new coin will enable near-instant, low-cost cross-border payments and programmable transactions via blockchain technology, strengthening Europe’s financial infrastructure and innovation capacity.
The consortium is open to additional financial institutions and expects to appoint a CEO in the coming weeks, pending regulatory approval. Its ambition is to establish a euro-backed digital payments standard available around the clock with efficient settlement, bolstering Europe’s financial sovereignty in response to the dominance of U.S. dollar–issued stablecoins.
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