News · Regulation & Policy
Executive Board member Piero Cipollone warned delays would postpone issuance, as the central bank prepares its H2 2027 pilot and expands tokenized settlements.
Key point 1 of 3
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ECB's Piero Cipollone called for the Single Currency Package to be finalized by the end of 2026 to set the digital euro's issuance date .
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A digital euro pilot using a beta version without legal tender status is scheduled for the second half of 2027, featuring 36 payment service providers .
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The Eurosystem's Pontes platform settled its first major transaction on Nov. 2, executing a €1 billion digital bond from the European Stability Mechanism .
Context
The European Parliament backed the Single Currency Package in plenary on July 9, moving the framework into trilogues.
Why it matters
European payment service providers, banks, and merchants face operational adjustments as technical standards firm up.
What to watch
Trilogue conclusion on the Single Currency Package before year-end 2026; merchant selections for the pilot in early 2027; and the launch of conditional payment trials in January…
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