The European Central Bank aims to launch a digital euro pilot in 2027.

On October 30th, the European Central Bank stated on Thursday that if it can obtain timely approval from legislators, it may commence its digital currency pilot project in 2027. The European Central Bank holds the view that this project is of great significance for the financial sovereignty of the Eurozone. It is regarded by the European Central Bank as a strategic alternative to U.S.-dominated private payment methods such as credit cards and stablecoins. The European Central Bank declared that in an era of intensifying geopolitical tensions, this move is becoming increasingly crucial as financial sovereignty and resilience are considered essential for maintaining European economic sovereignty. After four years of research and preparation, the European Central Bank indicated that it is currently pondering conducting a pilot, which implies that some digital euro transactions may occur as early as mid-2027, with full implementation two years later. (Xinhuanet)