Digital Euro May Not Launch Until Mid‑2029, ECB Official Says as Parliament Delays Progress

• Mid‑2029 is the projected launch window cited by an ECB official.

• The European Parliament must pass enabling legislation and is likely to take a formal stance by May 2026.

• EU ministers agreed a roadmap with holding limits; next MEP progress report is expected Oct. 24, 2025.

digital euro: ECB now targets mid‑2029 for launch; track legislative steps and a key MEP report on Oct. 24, 2025. Read the timeline and next steps.

What is the digital euro?

The digital euro is the European Central Bank’s proposed central bank digital currency (CBDC) designed to complement cash and support financial sovereignty. It would be a digital form of central bank money for retail use across the euro area, issued and regulated by the ECB in coordination with EU institutions.

When will the digital euro launch?

ECB Executive Board member Piero Cipollone indicated the earliest practical launch could be around mid‑2029. This projection follows recent EU ministerial roadmap agreement and depends on the European Parliament delivering a general approach and subsequent Council decisions.

ECB Executive Board member Piero Cipollone in Frankfurt, on Sept. 23. Source: Bloomberg

How is EU legislation affecting the digital euro timeline?

Legislative approval is the primary gating factor. The European Parliament must adopt a position and legislation enabling issuance, and the Council of Ministers will discuss safeguards such as holding limits before the ECB takes a final issuance decision.

Per Cipollone, the Parliament could have a formal position by May 2026, with a MEP report scheduled for Oct. 24, 2025, followed by a six‑week amendment window and up to five months of discussions thereafter.

Why are holding limits important?

Holding limits aim to protect financial stability and prevent rapid disintermediation of banks. EU ministers agreed a compromise to include holding caps in the roadmap, a measure intended to limit migration of deposits into CBDC holdings and support monetary and banking stability.

Frequently Asked Questions

Is the digital euro replacing cash?

The digital euro is intended to complement, not replace, cash. It would provide a digital public payment option while preserving legal tender status of cash across the euro area.

How will the digital euro affect banks?

Holding limits and operational safeguards aim to prevent major deposit outflows from banks. Policymakers design the CBDC to avoid abrupt disintermediation and preserve bank funding models.

Who is authoring and tracking progress?

COINOTAG reports on ECB public statements and EU institutional timelines. Key public officials referenced include ECB Executive Board member Piero Cipollone and Eurogroup President Paschal Donohoe.

Key Takeaways

• Mid‑2029 target: The ECB’s working estimate places a potential launch around mid‑2029, pending legislation.
• Parliamentary gatekeeper: The European Parliament’s position and a planned MEP report (Oct. 24, 2025) are central to the timeline.
• Safeguards in place: Ministers agreed on holding limits and a staged roadmap to reduce financial‑stability risks.

Conclusion

The digital euro remains a carefully staged effort to introduce a public digital currency while protecting financial stability. With the European Parliament and Council expected to shape critical rules, mid‑2029 stands as a realistic target if legislative steps proceed as outlined. COINOTAG will continue to monitor official developments and report updates.

Introduced in October 2020, Europe’s digital euro may not launch until 2029, according to ECB Executive Board member Piero Cipollone.

The digital euro, The European Union’s long-planned central bank digital currency (CBDC) project, is facing another delay, with launch now expected around mid-2029.

The EU’s digital euro could become a reality in 2029, European Central Bank Executive Board member Piero Cipollone said in a Bloomberg Future of Finance event Tuesday in Frankfurt.

“The middle of 2029 could be a fair assessment,” the official said, adding that the ECB has been actively discussing the project at the level of EU member states.

If correct, Cipollone’s timeline would signal another delay for the digital euro, despite widespread calls to launch the CBDC to protect Europe’s financial sovereignty amid the US stablecoin push.

European Parliament is holding up progress

According to Cipollone, the European Parliament has been the biggest obstacle to progress toward a digital euro, as it must pass legislation to move forward with the project.

“We should arrive at a general approach, as they call it, an agreement among member‑states by the end of the year,” he said, adding that the Parliament is likely to have a position on a digital euro by May 2026.

ECB Executive Board member Piero Cipollone in Frankfurt, on Sept. 23. Source: Bloomberg

Cipollone’s assessment on Europe’s CBDC launch came soon after EU ministers reached a “compromise” on the digital euro roadmap last week, imposing holding limits on the potential digital currency.

Related: EU lawmakers skeptical of digital euro as ECB renews pitch — referenced as coverage in other industry reporting (plain text reference, no external link).

“The compromise that we reached is that before the ECB makes a final decision in relation to issuance […] there would be an opportunity for a discussion in the Council of Ministers,” Irish Finance Minister and Eurogroup President Paschal Donohoe said at a press conference last Friday.

A MEP to report on progress on Oct. 24

While Cipollone expects the digital euro won’t launch before mid‑2029, European authorities are pressing ahead with CBDC preparations, with the ECB targeting October to decide whether to move to the next phase.

A spokesperson for the ECB told plain text reporting that a Member of the European Parliament (MEP) is expected to deliver a progress report on the digital euro on Oct. 24.

Following the report, lawmakers will have six weeks to put forward amendments and a further five months for discussions, Cipollone reportedly said.

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Published: 2025-09-24 | Updated: 2025-09-24 | Author: COINOTAG