ECB Sets Timeline for Digital Euro Pilot Testing by 2027

The European Central Bank (ECB) has announced a detailed timeline and budget for its digital euro initiative, with a development cost of €1.3 billion. According to NS3.AI, the ECB plans to conduct pilot testing of the digital euro by late 2027, with potential issuance slated for 2029. Amid these developments, speculation surrounds President Christine Lagarde's possible departure before her term concludes in 2027, raising concerns about leadership continuity and its impact on the project's communication and legislative alignment. The ECB has reaffirmed its commitment to the digital euro project, outlining decisive next steps. These include a call for payment providers in early 2026, signaling growing momentum towards establishing a new European digital payment infrastructure. The initiative aims to enhance the region's payment systems and ensure alignment with evolving digital financial landscapes.