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Investing.com -- The European Central Bank announced Thursday it is targeting mid-2027 for a pilot launch of its digital euro, with plans for a full-scale rollout in 2029, pending timely approval from lawmakers.
After four years of research and development, the ECB is advancing the digital currency project, which it describes as a strategic alternative to private, U.S.-dominated payment methods like credit cards and stablecoins.
"A pilot exercise and initial transactions could take place as of mid-2027," the ECB stated. "The whole Eurosystem should then be ready for a potential first issuance of the digital euro during 2029."
The central bank emphasized the project’s importance for the euro zone’s financial autonomy, particularly in an environment of increasing geopolitical tensions. The ECB views the digital euro as essential for safeguarding Europe’s economic sovereignty by enhancing financial autonomy and resilience.
The timeline depends on securing necessary legislative approvals, which the ECB indicated are crucial for moving forward with the initiative.
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