He European Central Bank (ECB) established the year 2029 for the possible issuance of the digital euroas confirmed by Piero Cipollone, member of the Executive Council. The Initiative seeks to offer a Euro electronic version, with the aim of facilitating daily transactions In the Eurozone.
Cipollone commented that the European Parliament, the European Council and the European Commission could have their respective positions in May 2026, after which they will begin to work together in the legislation.
Since the end of 2023, The ECB initiated a preparation phase that combines technological development with the implementation of legal frameworks Throughout the European Union, to guarantee compliance with privacy standards and money laundering prevention.
Once Approved the necessary regulatory framework, the European Central Bank will require between two and three years To effectively develop and launch the digital euro.
Confirm launch of the stablecoin regulated by Mica
Nine of the main European banks, including Caixabank and ING, announced a joint initiative to develop a stablecoin called in euroswhich will operate under the regulatory framework Mica of the European Union.
The stable cryptocurrency will be issued for the first time in the Second half of 2026 and seeks to become a Reliable Payment Standard Within the European digital ecosystem.
The issuance will be in charge of a newly created company based in the Netherlands, which will request a license from Electronic money entity before him Dutch Central Bank. This institution will be responsible for supervising the fulfillment of Mica, including the support of reserves 1: 1 and the realization of quarterly audits.
The objective is to guarantee a safe, transparent and aligned system with the EU strategy of building a self -sufficient payments ecosystemreducing the dependence of foreign suppliers of Stablecoins.
The new stable will allow almost instant and low -cost cross -border paymentsin addition to programmable transactions through blockchain technology, which seeks to optimize financial infrastructure and promote innovation in the sector.
Floris Lugt, head of ING digital assets, stressed that the project requires a approach to collaboration at the entire industry to standardize digital payment systems in EU member countries.
The consortium is open to other financial institutions join the initiative. In the coming weeks a Executive Directorsubject to regulatory approval.
Fiona Melrose, Group and ESG Strategy Director of Unicredit, stressed that the initiative seeks offer a reliable solution for chain payments and that the collaboration between European institutions could boost economic growth of the region, strengthening its financial ecosystem. The project has as its goal to position itself as the European standard for digital payments supported in eurosoffering an infrastructure available continuously and with efficient settlement. In addition, it is presented as a strategic response to the predominance of stable cryptocurrencies issued in dollars, reinforcing the Financial Sovereignty of Europe.
Source: Ambito
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