ECB Targets Digital Euro Pilot in Mid-2027, But Timeline Hangs on Lawmaking

The European Central Bank (ECB) has announced a planned pilot program for a digital euro by mid-2027, aiming to test the currency’s feasibility. However, this timeline hinges on lawmakers approving enabling legislation that faces resistance from banks concerned about potential impacts like deposit drain and costly infrastructure investments. While a full rollout is envisioned for 2029, the pilot program could occur as early as mid-2027 if legislation passes by 2026. The ECB’s decision comes after years of development to address Europe’s financial dependence on U.S.-based payment systems like credit cards and stablecoins.