Banque nationale de Belgique : Press releases Eurosystem moving to next phase of digital euro project The Governing Council of the European Central Bank (ECB) has decided to move to the next phase of the digital euro project, after the successful completion of the preparation phase launched by the Eurosystem in October 2023. The next phase of the digital euro project starting on 1 November 2025 aims to make the Eurosystem ready for a potential first issuance of the digital euro in the course of 2029. 30 Oct

The Governing Council’s decision reflects the need to continue developing a digital euro that will complement physical cash, ensuring that everyone in the euro area can keep using a public, trusted, and universally accepted means of payment for day-to-day payments – both online and offline. A digital euro will preserve Europeans’ freedom of choice and privacy and protect Europe’s strategic autonomy, monetary sovereignty and economic security. It will foster innovation in payments and help make European payments competitive, resilient and inclusive.

The next phase of the digital euro project will start on 1 November 2025 and aims to make the Eurosystem ready for a potential first issuance of the digital euro in the course of 2029. This is based on the assumption that European co-legislators will adopt the Regulation on the establishment of the digital euro in the course of 2026. A pilot exercise and initial transactions could take place earlier, potentially starting as soon as mid-2027.The ECB Governing Council’s final decision on whether to issue a digital euro and on what date will only be taken once the legislation has been adopted.

“The euro, our shared money, is a trusted sign of European unity,” said ECB President Christine Lagarde. “We are working to make its most tangible form – euro cash – fit for the future, redesigning and modernising our banknotes and preparing for the issuance of digital cash.”

The ECB reaffirms its commitment to developing a digital euro that works for everyone and advances Europe’s financial evolution – designed to empower citizens, support innovation and strengthen the resilience of our monetary system. Along with the Regulation on the establishment of the digital euro, the ECB is also supporting the European Commission’s proposal to reinforce the right to pay with cash.

Attachments

Original documentPermalink

Disclaimer

National Bank of Belgium published this content on November 06, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 07, 2025 at 10:03 UTC.