According to the ECB Executive Board member, the launch of the digital euro depends on the timing of the EU regulation.
The European Central Bank (ECB) is making progress in preparing for the digital euro. According to Piero Cipollone, ECB Executive Board member and coordinator of the project, the technical phase “is proceeding quickly and on schedule,” but moving to operational implementation still requires political approval of the regulation at the European level.
Speaking at the ‘Voices on the Future’ event organized by Ansa and Asvis, Cipollone outlined a possible timeline:
“If the regulation is approved at the start of 2026 — in the best-case scenario for the European legislative process — we could see the first transactions with the digital euro by mid-2028.”
Cipollone also highlighted Europe’s current dependence on electronic payment systems managed by non-European companies:
“Today in Europe, whenever we don’t use cash, any transaction online or at the supermarket has to go through credit cards, with their fees. The payment system relies on companies that aren’t based in Europe. You can see why it would make sense to have a system fully under our control.”
For the ECB board member, the digital euro would act as a direct alternative to cash in the digital world, working like “a banknote you can spend anywhere in Europe for any purpose.”
The digital euro project is part of the ECB’s broader strategy to strengthen the independence of Europe’s financial system. According to Cipollone and the Central Bank, Europe’s digital currency would be a key step toward greater autonomy in electronic payments, reducing reliance on infrastructure and services outside the European Union.
