The digital euro project moves to the next phase

30 October 2025

The Governing Council of the European Central Bank (ECB) has decided that the Eurosystem will move on to the next phase of the digital euro project on 1 November.

The Eurosystem will now focus on three main workstreams: technical readiness, market engagement, and support for the legislative process.

In this phase, the Eurosystem will implement the necessary technical solutions in preparation for a possible issuance decision, while maintaining the flexibility needed to stay aligned with the legislative process and the decisions that will be made.

The ECB's goal is to be ready for a potential issuance of the digital euro by 2029. This would allow anyone in the euro area to use a public means of payment - complementary to cash - that is reliable and universally accepted for everyday transactions, both online and offline.

Pilot projects, testing initial transactions on a small scale, could begin as early as mid-2027.

The Eurosystem will work even more closely with payment service providers (PSPs), as well as with representatives of merchants and consumers, to gradually move toward the initial issuance in a conscious and shared manner. It will also maintain a continuous dialogue with the EU co-legislators and institutions on the project, providing technical input throughout the legislative process.

In any case, a decision to issue the digital euro will only be taken by the ECB's Governing Council after the necessary legislative framework has been approved.

Annexes

  1. 30 October 2025
    Eurosystem moving to next phase of digital euro project
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