ECB continues preparations for the digital euro, with a planned launch in 2029, despite the concerns of commercial banks and the opposition of MEPs.

The European Central Bank (ECB) continues preparations for the launch of the digital euro, planned for 2029, with a meeting of European officials scheduled for this week in Florence. The preparation phase, which began in 2023, includes developing operational rules, selecting providers, and testing in real scenarios, but the project's progress depends on the agreement of politicians in Brussels. There are concerns from commercial banks that direct consumer access to the digital currency could weaken their role in the payment market. The ECB is working on a version of the digital euro for transactions between financial institutions, considering Europe's dependence on American companies. There is also discussion about limiting the amount of digital euro that individuals can hold, estimated at 3,000 euros, to avoid affecting the banking system. Eurozone finance ministers have approved the holding limits, but a final cap has not yet been established.