ECB's Cipollone sets out digital euro timeline, with pilot payments within a year

ECB Executive Board member Piero Cipollone told Corriere della Sera that the digital euro will complement cash, with a pilot under way, 36 institutions selected for testing next year and first payments due within 12 months. He said EU legislation should be ready by year-end, a first issuance is possible in 2029, and offline payments and a card for people without phones are planned. He framed the project as European strategic autonomy in payments, so it is a step toward a state-issued digital currency run through central infrastructure.