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Piero Cipollone, a member of the Executive Board of the European Central Bank, said that the digital EUR aims to strengthen the EU’s payment sovereignty; if the legislation is passed within the year, real-transaction testing may take place in 2027 year, with the earliest 2029 year for launch.
The Swedish central bank wants lawmakers to reconsider the need to issue an e-krona and begin legislative and technical preparations as soon as possible. It is concerned that foreign-currency stablecoins and digital EUR could weaken the use of the Swedish krona in payments over the long term.
Lagarde said during the IMF annual meeting that the European Central Bank is designing a digital EUR for everyday payments to supplement cash in digital form. She also said that EUR euro area inflation, driven by energy costs, is expected to ease next year.
The Riksbank is reassessing the possibility of issuing a digital krona, urging Parliament to begin preparing relevant legislation, and listing the advancement of digital EUR and the growth of foreign-currency stablecoins as important reasons.
An internal presentation document shows that the European Central Bank plans to issue the digital 2029 for the first time in the second half of EUR, initially covering online shopping, payments at some physical stores, and person-to-person transfers, with offline transactions supported in some scenarios. The plan has not yet received official confirmation.
The weekly report states that RWA asset size declined slightly while holders increased, and stablecoin market capitalization remained high; regulatory and institutional adoption progressed in parallel, including OKX and ICE plans to build a platform and launch a digital EUR.
European Central Bank Executive Board member Cipollone stated that digital EUR will provide an innovation platform for European payment service providers and enhance their competitiveness. The project plans to begin a pilot next year and officially launch in 2029.
The ECB launches a new round of applications for its digital EUR innovation platform, planning to test AI agentic payments, conditional payments, and other features; issuance of the digital EUR remains subject to EU legislation and a subsequent decision by the ECB.
Reports say the ECB has launched Pontes, connecting the EUR payment system to blockchain-based financial markets. Initial participants include Deutsche Bank, Santander and Clearstream.