ECB hopes to launch digital euro pilot in 2027
Update: 2025-10-30
Description
European Central Bank Announces Digital Euro Pilot: Hurdles and CostsThe European Central Bank has revealed plans to launch a digital euro pilot by mid-2027, aiming for a full launch by 2029. This move is seen as crucial for the euro zone's financial independence, as the global payment landscape is dominated by American companies. However, the project faces a significant challenge: legal approval from European lawmakers. Concerns include potential money drain from traditional banks and high setup costs. The European Central Bank estimates the setup cost to be between four and nearly six billion euros. Negotiations and decisions on the digital euro's existence and ownership limits will shape its final form.
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