The ECB highlights progress on the digital euro, including pilot plans, market readiness, and legislative efforts, with a target adoption by end of 2026.
The European Central Bank (ECB) presented an overview of the digital euro project during the Policy breakfast organized by I-Com on June 18, 2026, in Piero Cipollone, Member of the ECB Executive Board.
The ECB reported that 15 out of 21 euro area countries lack a widely used domestic digital payment solution in shops. Nearly two-thirds of card transactions are processed by international schemes. The digital euro aims to provide an additional payment method across the euro area for all situations.
Data collection on domestic digital payment solutions is ongoing, with Bulgaria having a domestic solution (bcard) since January 2026. The ECB emphasizes the importance of digital euro standards for domestic and regional solutions to achieve pan-European reach without heavy investment.
The ECB also discussed the importance of ensuring access to public money, supporting cash, and maintaining freedom of choice between cash and digital payments. Consumer studies show a shift toward online payments, especially in Italy, with increased online payment share and value from 2019 to 2024.
The digital euro is seen as a means to strengthen Europe’s strategic autonomy and resilience in daily payments, safeguarding critical infrastructure and ensuring payment independence.
Benefits for stakeholders include lower fees, instant funds receipt, privacy, data protection, and inclusive access for consumers, merchants, and payment service providers. The digital euro will be available online and offline, ensuring functionality during connectivity or power outages.
The ECB aims to strengthen European payment service providers by establishing pan-European acceptance infrastructure and fostering innovation through open standards. Domestic solutions adopting digital euro standards can expand reach without significant investment.
The ECB plans a 12-month pilot starting in the second half of 2027, involving over 50 payment service providers, to test readiness, improve market strategies, and refine the digital euro’s value proposition. Four use cases will be tested during this pilot.
Legislative preparations are progressing, with the EU Council urging finalization of digital euro legislation by the end of 2026. The ECB will decide on issuing the digital euro only after legislation adoption, with ongoing discussions in the European Parliament.
Additional materials and updates are available on the ECB website, and inquiries can be directed to digitaleuro@ecb.europa.eu.
