European Central Bank advances digital euro and tokenized settlement
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On October 6, 2026, European Central Bank Executive Board member Piero Cipollone said that the ECB is building digital financial infrastructure through the digital euro, Pontes, and Appia, bringing central bank money to retail payments and tokenized wholesale finance. The digital euro was originally scheduled to begin a 12-month pilot in the second half of 2027; if the relevant legislation is passed by the end of 2026, the ECB aims to be ready for a first issuance in 2029. Pontes went live on September 21 to settle tokenized assets in central bank money, with full implementation expected to be completed by mid-2028. On October 8, Cipollone said the pilot had started in the summer and that the first round of testing would begin the following year; the ECB had selected 36 participants from nearly 60 applications. Earlier reports said the pilot was planned to start in the second half of 2027, while later reports said it had started in the summer. On October 17, ECB President Christine Lagarde again said that the Eurosystem plans to conduct a 12-month internal digital euro pilot in the second half of 2027, with implementation dependent on whether the relevant legislation is passed by the end of 2026; Pontes will continue to support the settlement of tokenized asset transactions in central bank money, while Appia will advance the development of the tokenized ecosystem.
AI-written from reports · updated 4 days ago
Developments
- Oct 17 13:00 · 1 reportsLagarde issues an IMFC statementEuropean Central Bank：Christine Lagarde: ECB advances digital euro pilot and tokenized asset settlement infrastructure
- Oct 8 14:00 · 1 reportsECB advances digital euro pilotEuropean Central Bank：Piero Cipollone: Digital euro could launch in 2029, pilot already underway
- Oct 6 21:00 · 1 reportsEuropean Central Bank advances the digital euro and tokenized settlementEuropean Central Bank：Piero Cipollone: ECB advances the digital euro, Pontes and Appia to build Europe’s digital financial infrastructure
Timeline
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- European Central BankSelectedChristine Lagarde: ECB advances digital euro pilot and tokenized asset settlement infrastructure
ECB President Christine Lagarde said that the Eurosystem plans to conduct a 12-month internal pilot of the digital euro in the second half of 2027, with implementation depending on the passage of digital euro legislation by the end of 2026. In wholesale payments, the Eurosystem’s DLT solution Pontes went live on September 21 to support settlement in central bank money for tokenized asset transactions; Appia plans to further advance a blueprint for a tokenized ecosystem based on common standards, shared network infrastructure, and European governance.
- European Central BankSelectedPiero Cipollone: Digital euro could launch in 2029, pilot already underway
ECB Executive Board member Piero Cipollone said the digital euro will coexist with cash and could launch in 2029; the pilot project began in the summer, with the first round of testing to begin next year. ECB selected 36 participants from nearly 60 applications, and the digital euro will also support offline payments without network connectivity, while potentially halving the cost for small merchants to accept digital payments.
- European Central BankSelectedPiero Cipollone: ECB advances the digital euro, Pontes and Appia to build Europe’s digital financial infrastructure
ECB Executive Board member Piero Cipollone said that the ECB is extending central bank money to retail payments and tokenized wholesale finance through the digital euro, Pontes and Appia. The digital euro pilot is planned to launch in the second half of 2027 and run for 12 months. If the legislative process is completed by the end of 2026, the ECB aims to be ready for the first issuance in 2029. Pontes was launched on September 21 to settle tokenized assets in central bank money, with full implementation expected by mid-2028.
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