Mid 2029 a fair timeline for digital euro

The Digital Euro, the long -planned Central Bank Digital Currency (CBDC) of the European Union, faces delays, with its launch now around mid -2029.

EU digital euro can be a reality in 2029, member of European Central Bank Executive Board Piero Cipollone Says At an event at Bloomberg Future of Finance Tuesday in Frankfurt.

“The mid -2029 could be a fair assessment,” he said, adding that the ECB is actively discussing the project at the level of EU member states.

If correct, the Cipollone timeline will signal another delay for the digital euro, despite Extensive call to launch CBDC To protect European financial sovereignty in the middle of the US Stablecoin push.

European Parliament holds development

According to Cipollone, the European Parliament has been the biggest obstacle to developing a digital euro, as it must pass the law to advance the project.

“We should get to a general approach, as they call it, an agreement with members-states by the end of the year,” he said, adding that Parliament is likely to have a position in a digital euro in May 2026.

Cipollone’s analysis of Europe’s CBDC launching came soon after EU ministers reached a “compromise” on last week’s digital euro roadmap, The imposition of handling limits in potential digital currency.

Related: EU lawmakers doubt the digital euro as the ECB changes the pitch

“The compromise we reached was before the ECB made a final decision related to the release (…) there would be an opportunity for a discussion with the Ministers Council,” Irish Minister of Finance and Eurogroup President Paschal Donohoe Says at a news conference on Friday.

A MEP to report on developing on October 24

While the Cipollone expects the digital euro to not be launched before mid -2029, European authorities are forced in advance of CBDC preparations, including ECB Targeting October to decide whether to move to the next stage.

A spokesman for the ECB at Cointelegraph on Wednesday said a member of the European Parliament (MEP) was expected to deliver a Digital Euro development report on October 24.

Following the report, lawmakers will have six weeks to pass the amendments and an additional five months for discussions, Cipollone reported.