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On Tuesday, the European Central Bank’s board member Piero Cipollone said that the bank has earmarked 2029 as a realistic timeline for establishing a digital euro. He acknowledged that the digital euro will essentially be an online payment wallet backed by the central bank. The ECB board member revealed that the EU Parliament, the European Council, and the European Commission may have their respective positions by May 2026, after which the trio will begin working on legislation. Cipollone said the ECB will require between two and a half and three years to launch the currency. EU’s finance ministers agree on digital euro’s launch roadmap 🔥 DIGITAL EURO IS COMING The European Central Bank plans to launch its CBDC — the digital euro — this October. Christine Lagarde praises China’s model, calling it “of service to all citizens.” But CBDCs track who spends what, where, and when — and can be programmed to:… pic.twitter.com/ELXGgToJU4 — Jim Ferguson (@JimFergusonUK) September 22, 2025 The bloc’s finance ministers agreed on a roadmap for launching a digital euro on Friday. The digital currency aims to become an alternative to the current dominant U.S.-based Visa and Mastercard system. This year, the EU has ramped up discussions on a digital wallet backed by the European Central Bank, seeking to reduce its dependence on other nations in key areas like finance, energy, and defence. The central bank is also pushing for the digital euro as a response to U.S. President Donald Trump’s global push for stablecoins pegged to the U.S. dollar. The bloc’s central bank is yet to secure legislative approval for stablecoins. EU lawmakers and bankers have complained that stablecoins may hollow out banks’ coffers, curtail privacy, or cost a lot. “The digital Europe is not just a means of payment, it is also a political statement concerning…

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Filed under: News - @ September 23, 2025 8:30 pm