ECB’s Lagarde Says Digital Euro Is in Preparation, With Pilot Set for Second Half of 2027

The European Central Bank is accelerating preparations to introduce the digital euro, a central bank digital currency, or CBDC.

Cointelegraph reported on Oct. 17 that ECB President Christine Lagarde said at the International Monetary Fund’s annual meeting that the central bank is preparing a digital euro to complement cash for everyday payments.

Lagarde said the digital euro would foster innovation and competition in the retail payments market. It would also strengthen Europe’s strategic autonomy through the coexistence of public and private means of payment, she said.

She also provided a specific rollout timeline. The ECB plans to conduct a 12-month digital euro pilot beginning in the second half of 2027.

The plan, however, requires related legislation for the digital euro to be in place by the end of this year.