Overview
- ECB board member Piero Cipollone cautioned that Europe remains vulnerable because US companies control key payment infrastructure.
- The European Commission’s draft law is still under negotiation in the European Parliament, and the ECB says merchants and IT providers would begin implementation once rules are finalized.
- The project roadmap foresees an EU legal framework in 2026, a pilot as early as mid‑2027 if politics allow, and potential issuance in 2029.
- The digital euro is intended as a public payment option alongside cash to cut dependence on providers such as PayPal, Mastercard and Visa.
- Industry analysis urges banks to start execution now, since they are expected to provide wallets, manage identity, and integrate new settlement and offline capabilities.