Digital euro may be rolled out in mid 2029

The digital euro may launch in 2029, as momentum grows in the European Central Bank's efforts, according to Piero Cipollone.

Recent agreements among euro-area finance chiefs on customer holding limits signal progress. Cipollone noted that discussions among member-states are productive. The ECB aims to reduce dependence on companies like Visa and PayPal for payments, especially amid concerns about dollar-backed stablecoins.

The European Parliament's approval is essential, following a progress report on Oct. 24. Lawmakers will have six weeks to propose amendments and five months for discussions. Cipollone anticipates a parliamentary position by May and aims for an agreement among member-states by the year's end.