Central bank money
ECB's Cipollone urges swift trilogue deal on digital euro law
EUSource: European Central Bank
AI-generated image- In an introductory statement to the European Parliament's Committee on Economic and Monetary Affairs in Brussels on 10 November 2026, ECB Executive Board member Piero Cipollone said a swift conclusion of the ongoing trilogue negotiations would allow the Single Currency Package to be adopted by the end of the year, giving the ECB the legal certainty to complete digital euro preparations, and that a possible first issuance date can be set only after the Regulation is adopted.
- He said Pontes, launched in September with 18 market participants and market DLT operators onboarded on day one, settled the issuance of the European Stability Mechanism's first digitally native €1 billion benchmark bond on 2 November.
- He also said the digital euro pilot starts in the second half of 2027 with the 36 payment service providers selected in July, the final selection of pilot merchants for remote payments will be announced early next year, and the next wave of digital euro innovation platform activities will run from January to June 2027.
Why it matters
Banks preparing for the digital euro still have no fixed issuance date, which the ECB says depends on the Regulation being adopted, while the stated 2 November date for the ESM bond confirms that Pontes is already settling large DLT issuances in central bank money.
Read the original: European Central Bank ↗
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More detail
Who is affected
Euro-area banks and payment service providers preparing for the digital euro pilot and rollout, merchants applying to the pilot, and market participants and DLT operators using Pontes.
Key dates
- Pontes settles ESM €1bn digitally native benchmark bond (stated in the speech)
- Cipollone statement to the European Parliament ECON committee
What remains uncertain
- Adoption of the Single Currency Package by the end of 2026 depends on the trilogue outcome; the speech gives no fixed first-issuance date
Key facts
- Event
- Speech
- Jurisdiction
- EU
- Source
- European Central Bank
- Source tier
- Tier 1 · Regulator / central bank
- Product
- CBDC, Tokenized deposits
Institutions
How we verified this
The source says
“A swift conclusion of the ongoing trilogue negotiations would pave the way for the adoption of the Single Currency Package [ 1 ] by the end of the year as foreseen in the One Europe, One Market Roadmap . [ 2 ] This would give us the legal certainty needed to complete our preparations for the digital euro.”
“A delay in adoption could instead postpone the introduction of the digital euro, further entrench Europe’s dependence on foreign providers, and make it more difficult for European companies to innovate and compete.”
“On 2 November it settled the issuance of the European Stability Mechanism’s first digitally native benchmark bond of €1 billion [ 4 ] , facilitating the shift in European tokenised finance from experimentation to adoption.”
“The launch was widely welcomed by the market, with 18 market participants and market DLT operators onboarded on day one and many others preparing to join soon.”
Verbatim from European Central Bank, matched word for word against the live page on 13 November 2026.
Sources
- PrimaryEuropean Central Bank ↗2026-11-10T1Regulator
Evidence
- Confidence
- High Primary source (regulator / official record); quote string-matched against the live page.
- Quote verified
- 2026-11-13 11:59 UTC
- Archived snapshot
- SHA-256
567c8fdd72e460f4…· fetched 2026-11-10 · Wayback Machine copy ↗ - Source type
- Primary European Central Bank ↗
Change log (1)
- 2026-11-10 Published
AI-assisted: the summary and analysis were drafted with AI from the primary source and checked by the editors. AI-drafted from the primary source; quote string-matched against the live source page.
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