The European Central Bank (ECB) remains on track to be ready for a potential first issuance of the digital euro by mid-2029.
The timeline depends on the adoption of the required legislative framework by EU co-legislators, which officials expect to be finalized during 2026.
The project has now moved from early preparation into a more intensive development phase, with technical and regulatory milestones clearly defined.
Key Milestones Toward Launch
The ECB has outlined a structured roadmap:
- Q1 2026 – Provider Selection
The process to select payment service providers (PSPs) and merchants for participation in the pilot phase is scheduled to begin in the first quarter of 2026. - End-2026 – Legislative Approval Target
ECB officials expect the digital euro regulation to be agreed upon by the end of 2026. - Mid-2027 – Pilot Program
A 12-month pilot involving real-world transactions in a controlled environment is planned for the second half of 2027. - Mid-2029 – Potential First Issuance
Assuming legal approval and technical readiness, the Eurosystem aims for a broad rollout and first issuance by mid-2029.
Technical Development Advances
As of February 18, 2026, the project has entered a deeper technical build-out stage.
Current work includes:
- Designing the core system architecture
- Developing the digital euro rulebook
- Refining both online and offline payment functionalities
The ECB has also prioritized accessibility. On February 18, 2026, it signed a cooperation agreement with the ONCE Foundation to ensure that the digital euro app accommodates individuals with disabilities and users with limited digital skills.
Cost Estimates
The projected development cost through first issuance is approximately €1.3 billion. Once operational, annual running expenses are estimated at around €320 million.
Conditional Timeline
The 2029 issuance target remains conditional on legislative progress. If EU lawmakers approve the framework in 2026 as expected, the ECB’s technical roadmap suggests that the digital euro could become operational within three years of regulatory clearance.
For now, the project remains in structured development, with political agreement representing the next critical milestone.
