ECB Plans Digital Euro Launch for October 2025

The European Central Bank (ECB) is accelerating the development of the digital euro, which aims to enhance financial independence and reduce reliance on foreign, particularly U.S.-based, payment systems. Chief Economist Philip Lane emphasized that the digital euro is essential for curbing the dominance of USD-pegged stablecoins in Europe, which currently make up 99% of the market. ECB President Christine Lagarde confirmed the planned launch for October 2025, pending legislative approvals, although public interest in the initiative has been notably low. A survey indicated that many Europeans feel satisfied with existing payment methods, prompting the ECB to adopt new communication strategies to increase understanding and support for the digital euro. The initiative is viewed as crucial, especially amid growing geopolitical tensions and the need for Europe to assert control over its monetary systems. However, concerns have been raised regarding the lack of public consultation in the development process, despite its significant potential impact on citizens' financial lives.