Digital currencies have been part of reality for several years now, and new modalities are emerging, such as the digital euro. This project by the European Union (EU) even has a date for its implementation, much sooner than we might imagine: 2027. Therefore, in less than two years, the electronic version of the euro will become a reality, issued and guaranteed by the European Central Bank (ECB), which aims to offer its citizens a public, stable, and widely accepted means of payment throughout the EU, both in physical and online stores.

Although many analysts assert that there is no advantage for the user and it will only be another tool for social, economic, and fiscal control, the EU continues with its roadmap. The timeline is not immediate, despite 2027 being very close: in the coming months, a decision will be made about the project's direction when the preparation phase ends. After that, with the European legal framework closed, two or three years of deployment will be needed, so the horizon is more likely between 2028-29, with progressive adoption starting from 2027.

The digital euro will be a legal tender. This means that EU merchants must be able to accept it (with exceptions outlined in the future law) and we will all be able to pay in Europe, send and receive money between individuals, collect a tax refund or benefits, and convert it into cash without issues. The European Commission has proposed that it also works offline through offline wallets with a limited local balance threshold on the device. In addition, the ECB has confirmed that there will be an official application to operate and switch providers in case of outages.

The changes introduced by the digital euro

Proponents of this new system point out that it will be possible to buy in any European store with ECB money, preserving competition against private networks; immediate transfers like those made with Bizum, but with digital money; income from various administrations directly into your wallet; withdrawing money from an ATM or moving it to your bank account at no additional cost; mobile-to-mobile payments or with a card without coverage or data up to a local balance limit.

For their part, detractors, who believe this has been happening for years, warn that it will be the end of cash, although the ECB insists it will not replace it, will coexist with banknotes and coins, and will not be programmable to impose how you spend the money.

The key dates of the digital euro

  • October 2025

The Governing Council of the ECB will decide the next steps after the closure of the first phase.

  • Legal framework (2025-26)

The Parliament and the Council must approve the Regulation of the digital euro, which will define the legal course, privacy, and commercial obligations, among other points. The agreement is expected in the first months of 2026.

  • Technical deployment (2028-29)

Once the law is approved, it is estimated that it will take between two and three years for its implementation (pilots, apps, cards, and ATMs).

The potential risks of the digital euro

In light of the criticisms and fears, such as excessive control by authorities, the ECB and the Commission emphasize that there will be no programming of the digital euro to limit uses, as anti-fraud measures will not involve mass tracking of purchases.

Regarding digital exclusion for the elderly or people who are not familiar with mobile phones or live in areas with poor coverage, it was announced that there will be physical rechargeable cards and assistance for groups without smartphones or in areas with poor coverage.

Source: Journalist Antonio Ruiz