Timeline & Roadmap

Every milestone on the path to the digital euro.

The digital euro project has evolved through multiple phases. Here's a comprehensive timeline of where it's been and where it's going.

Phase 1: Exploration (2020–2023)

October 2020: ECB publishes a report on the feasibility of a digital euro.
April 2021: Public consultation launched — receives over 8,000 responses.
July 2021: ECB decides to launch the digital euro project, entering a 24-month investigation phase.
September 2022: First progress report published, outlining design options and use cases.
June 2023: European Commission publishes legislative proposal for the digital euro.

November 2023: ECB launches the preparation phase (initially 2 years).
March 2024: Selected providers for potential digital euro components announced.
December 2025: European Council approves its negotiating position on the digital euro regulation.
March 2026: ECB invites payment service providers to apply for the pilot programme. Over 50 applications received.
June 2026: European Parliament's ECON committee approves the digital euro legislation.
July 2026: Pilot programme participants selected and announced.

2026 (target): Final agreement between Parliament, Council, and Commission (trilogue negotiations). Legislative framework adopted.
H2 2027: 12-month pilot programme begins with selected banks and PSPs. Testing real-world payment scenarios, user experience, and merchant acceptance.
Late 2026: Pontes DLT interoperability initiative goes live. Wholesale settlement for DLT-based transactions using tokenised central bank money begins (September 2026).
2028: Pilot programme concludes. Results evaluated and final design adjustments made.

2028: ECB Governing Council reviews pilot results and makes a formal decision on whether to issue the digital euro.
2029: If approved, the digital euro is launched for public use across the eurozone.

Pontes: An ECB initiative to create an interoperable European DLT system, enabling seamless settlement across different distributed ledger platforms. Expected live by end of 2026.
Wholesale DLT settlement: Tokenised central bank money for wholesale transactions, beginning September 2026. This legitimises DLT infrastructure for institutional finance.
Digital euro rulebook: A comprehensive set of rules governing how the digital euro operates, covering everything from user rights to merchant obligations.

Legislative delays: If trilogue negotiations extend beyond 2026, the timeline shifts.
Political opposition: Some member states and MEPs have raised concerns about financial stability impacts.
Technical challenges: Scaling to 350M+ users across 20 countries is unprecedented.
Public acceptance: Low public trust could slow adoption and influence the Governing Council's decision.

The decision to officially issue a digital euro will only be made once the regulation is finalized and adopted. — ECB