ECB Sets Stage for Digital Euro Launch in 2029
The European Central Bank (ECB) has presented its defense of Europe's monetary sovereignty through the digital euro and tokenized payment infrastructure. According to the ECB, if relevant regulations are adopted by the end of 2026, the first issuance of the digital euro could occur in 2029 after a pilot program in 2027.
Commissioner Piero Cipollone defined monetary sovereignty as control over the issuance and value of central bank money. He explained that central bank money serves as the benchmark for the financial system, with the euro being the second most important currency in the international monetary system.
The ECB pointed out a significant reliance on non-European payment networks for digital retail payments, with 82% of eurozone residents trusting the euro.