The ECB targets 2029 only if the law passes in 2026, so plan your digital euro project backwards from that date

The ECB has set a clear target. It aims to be ready for a first possible issuance of the digital euro during 2029. But this rests on one condition: EU lawmakers must adopt the digital euro Regulation by the end of 2026. The law is still a proposal and is now in final talks between the Parliament and Council. The ECB will only decide whether, and when, to issue once the law is adopted.

Before that, there is a 12-month pilot starting in the second half of 2027. Only 36 selected PSPs, banks and non-banks, take part. They are already building services, connecting to the Eurosystem's central platform (DESP) and running back-end certification. If your bank is not in the pilot, you will not get this early hands-on learning. You will need to catch up from the published rulebook and pilot lessons instead.

The takeaway: plan backwards from 2029, but keep two dates in your plan. Set a firm internal gate for when the Regulation is adopted, and a second gate for the ECB's issuance decision. Use the time now to budget, pick vendors and map your systems. Then you can start full build quickly when the law is final, without spending big too early if it slips.

— Lagarde