Digital Euro Project Aims for 2029 Launch as Legislation Advances

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According to PANews, European Central Bank Executive Board member Piero Cipollone stated that the digital euro could be introduced by 2029 as development efforts gain pace. Last week, Eurozone finance ministers agreed on setting limits for individual customer holdings, which Cipollone called a “major step forward” and evidence of growing momentum.

Speaking at the Bloomberg Financial Future event on Tuesday, he noted that talks among member states are moving smoothly, making mid-2029 a realistic launch target.

The key challenge is securing legislative approval from the European Parliament. Following the submission of a progress report on October 24, lawmakers will have six weeks to suggest changes, followed by five months of debate. By early May, Parliament’s position should be more defined. Cipollone also expressed confidence that a general framework or consensus among member states could be reached by year-end.