ECB staffs up for digital euro project

Editorial

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The European Central Bank says it could launch a digital euro pilot in 2027 ahead of a 2029 launch for the CBDC.

In an October update on the multi-year project, the ECB announced that it had completed the preparation phase that began two years ago and is now moving on to ensure technical readiness for the first issuance.

In a post detailing the recruitment drive, the ECB says: “We are looking to fill several expert positions to work on: (i) detailing the digital euro’s value proposition for intermediaries, consumers and merchants; (ii) planning the rollout of use cases and activities related to delivering the pilot and the potential subsequent launch; (iii) leading the development and finalisation of the digital euro scheme’s rulebook; and (iv) supporting the legislative process for the digital euro Regulation at technical level and coordinating engagement with EU institutions and policymakers.”

The ECB’s jobs page currently has six open roles for market infrastructure specialists, one engineering post and a marketing and communications position.

The Bank is currently waiting to see if European co-legislators – as expected – adopt the regulation on the establishment of the digital euro in the course of 2026, which would pave the way for a pilot exercise and initial transactions in mid-2027.

The ECB estimates that the total development costs, comprising both externally and internally developed components, are around €1.3 billion until the first issuance, with subsequent annual operating costs of about €320 million per year.