ECB Aims for Digital Euro Launch in 2029 to Bolster EU Financial Independence

The European Central Bank (ECB) has pushed the launch of its digital euro closer, setting a target date of 2029. This decision follows pressure from the European Council for faster development, aiming to strengthen EU financial sovereignty and control over payment systems. A pilot program will commence in 2027 before official deployment in 2029. The digital euro is designed to coexist alongside physical cash, offering a secure and state-backed alternative to private digital payments.