Good news: ECB delays CBDC launch to 2029

[Coyster]

I don't know if any colleagues from Nigeria could give us their particular perspective on the subject, although the linked article is quite detailed.

I am a Nigerian and i will tell you for free that it was a complete waste of resources launching the eNaira in Nigeria. I actually suspect that some of the earlier touted success after its launch was inflated. I never used the eNaira and i have not talked to anybody that ever used it.

The eNaira was launched during the past administration of late Buhari, and this new administration of Bola Tinubu has zero interest in the project, but most of all there is no demand for it. It was basically a White Elephant project. Nigerians are already comfortable with the digital means of payments available, such as mobile banking and all. The eNaira was completely unnecessary and was dead on arrival.

[abhiseshakana]

Good news for residents of the Eurozone, but also for everyone else. The ECB had accelerated its headlong rush and intended to launch the digital euro this October.

Now the news has come out that they are postponing the launch until 2029, although they are not selling it that way; it seems they want us to forget what they said in March (about launching in October).

Eurosystem moving to next phase of digital euro project

But those of us who have been paying attention to the issue are not fooled. This is a huge delay that looks more like capitulation.

The long-awaited digital euro — the European Central Bank’s central bank digital currency (CBDC) project — is facing another delay, with its launch now projected for mid-2029.

I think they have chosen a four-year delay because they want to see if the government in the US changes. A CBDC that can only be used within the EU makes no sense.

I see a paradigm and confidence crisis at the global monetary policy level in this delay, and it's a tacit admission that the old system isn't ready for total transformation. The ECB likely recognizes that CBDCs are not simply technological innovations, but highly sensitive political and social changes. It cannot ignore public resistance to an idea that could eliminate citizens' financial privacy, expand state control over individual transactions, and create digital dependence on central financial authorities.

Without a digital dollar, a digital euro would be uncompetitive against a digital yuan; Western monetary systems need synchronization for this project to succeed. Uncertainty over the direction of US geopolitical policy could make a digital euro lose its appeal and even weaken its position as a foreign exchange reserve.

The longer the delay, the more space Bitcoin will occupy. It's funny that the ECB wanted to address the crypto threat by creating a digital euro, but instead gave itself ample time to strengthen its position.
Because the true value of a digital currency lies not in its digitalization alone, but in its cross-border capabilities and trustworthiness in the global market, something that a digital euro cannot yet and has difficulty achieving but that Bitcoin already has.

No, it's not that I forgot about China or any other country. In the quote, I didn't say I was going to give a list, it's just that Nigeria was the first country that came to mind, but China is not an example of anything. There's been a lot of progress lately, but I don't like social control one bit. And they're experts at this, so I'm not surprised about the CBDC there. For me, the question is whether the EU wants to be like China in terms of control, because lately it seems that it does, and we should reject this outright.

Like China, Europe also wants to modernize its financial system without losing its political and social legitimacy rooted in liberal democracy.

China is using CBDC as a tool of social and political control, not just for economic efficiency but also for political oversight and national stability. Meanwhile, the EU is using it for monetary stability and economic sovereignty, but its standard operating procedures (KYC, anti-terrorism, and anti-money laundering) create a similar control effect.

The line between security regulation and social control is very thin, and a centralized digital system could turn into an instrument of power. Moreover, if the ECB expands its authority, the intention of protecting citizens will end up controlling them.

So, the EU's political motive is to keep up with China and not depend on the US. It must not imitate, but respond/react to global challenges.

[avp2306]

I don't know if any colleagues from Nigeria could give us their particular perspective on the subject, although the linked article is quite detailed.

I am a Nigerian and i will tell you for free that it was a complete waste of resources launching the eNaira in Nigeria. I actually suspect that some of the earlier touted success after its launch was inflated. I never used the eNaira and i have not talked to anybody that ever used it.

The eNaira was launched during the past administration of late Buhari, and this new administration of Bola Tinubu has zero interest in the project, but most of all there is no demand for it. It was basically a White Elephant project. Nigerians are already comfortable with the digital means of payments available, such as mobile banking and all. The eNaira was completely unnecessary and was dead on arrival.

Well what to expect from government launching their own CBDC? For sure they would say its successful so that they can possibly get the attention of people. But so far there's no further more discussion about those things they created and it seems that CBDC's created by some government in parts of the world is destined to fail.

We have Bitcoin now and majority of people in internet support it rather than those government created also controlled by government. I'm not comfortable holding those digital asset which controlled by them since I'm worried that anytime they freeze my asset. This situation will not happen in Bitcoin especially if we have full control of our wallets.

[justdimin]

what to expect from government launching their own CBDC? For sure they would say its successful so that they can possibly get the attention of people. But so far there's no further more discussion about those things they created and it seems that CBDC's created by some government in parts of the world is destined to fail.

We have Bitcoin now and majority of people in internet support it rather than those government created also controlled by government. I'm not comfortable holding those digital asset which controlled by them since I'm worried that anytime they freeze my asset. This situation will not happen in Bitcoin especially if we have full control of our wallets.

To be fair, CBDC wasn't really about convincing people or making them prefer, it was more like a must thing. Well the moment they created it, all stablecoins would have become illegal, they have the power to do that, which means hundreds of billions of dollars would have gone to them and that's what they wanted. Obviously this did not work that great and I think it's clear that we are going to see things change a lot.

If we can make this work then we are going to see a ton of things that would be unthinkable but done by government. Glad that it's postponed so that we do not have to see this yet, we can definitely be bothered by it eventually but that doesn't mean that we are going to see this be very different.

[Don Pedro Dinero]

Nigerians are already comfortable with the digital means of payments available, such as mobile banking and all. The eNaira was completely unnecessary and was dead on arrival.

That's what I think about the digital euro or the digital pound. Why do we need them? We don't need them at all. We have plenty of electronic payment methods, and the authorities are trying to sell us on the idea that there is a need for them and that they offer advantages, which I would like to think that most people on the European continent don't believe either.

To be fair, CBDC wasn't really about convincing people or making them prefer, it was more like a must thing.

That's right.

[yhiaali3]

Yes, I heard about the postponement of the digital euro launch until 2029. Although they were very enthusiastic about it, it seems the project is facing many problems.

There are disagreements about the digital euro even within the European Union itself. Some countries oppose the project, led by France. Just days ago, French MP Éric Ciotti, representing the right-wing, conservative Union for the Republic party, submitted a resolution urging the French government to oppose the digital euro (CBDC) and instead support euro-backed stablecoins and invest in cryptocurrencies.
https://www.coti.news/news/france-proposes-to-ban-digital-euro-and-embrace-bitcoin-stablecoins

[Jegileman]

I think they have chosen a four-year delay because they want to see if the government in the US changes. A CBDC that can only be used within the EU makes no sense.

Even if the EBC can be used beyond just Europe, it makes no difference and will become a dead project in few months. In my country, e-Naira was launched in order to be an alternative to the fiat currency being in its digital form, since the year it was launched till now, we haven’t heard anything about it from the government or the public using it. It seems those behind it really made a lot of money to launch it but no Nigerian is using it and they’ve now moved to make cryptocurrency transactions more conducive for use in the country as it was banned before for banks not to transact with them.

To every country introducing CBDC, it’s just another way of embezzling because the project won’t work out and will be waste of resources on them. It has no different with the fiat, you can go all the way up and gather a worthless token that can make you poor in the blink of an eye because of the much manipulation and centralization in it like normal fiat.

[Abiky]

To be fair, CBDC wasn't really about convincing people or making them prefer, it was more like a must thing. Well the moment they created it, all stablecoins would have become illegal, they have the power to do that, which means hundreds of billions of dollars would have gone to them and that's what they wanted. Obviously this did not work that great and I think it's clear that we are going to see things change a lot.

If we can make this work then we are going to see a ton of things that would be unthinkable but done by government. Glad that it's postponed so that we do not have to see this yet, we can definitely be bothered by it eventually but that doesn't mean that we are going to see this be very different.

Not only stablecoins will become illegal, but also traditional cryptocurrencies such as Bitcoin and Ethereum. I mean, that's the plan. To force the use of CBDCs and get rid of crypto for good. All of the countries that support crypto (including the EU) are only doing it because they're interested in the tech. Not because they support decentralization and true monetary freedom (which are the core principles of crypto/Blockchain tech).

The EU has always been against crypto (particularly the ECB), so I wouldn't be surprised if it does a "full blanket ban" on crypto after the launch of the Digital Euro. I doubt it's going to be a success, but anything's possible. China already has its own CBDC and it's doing "well". Maybe the EU will learn something from it?

[coupable]

As you may have noticed, there is no single CBDC project has been proven successful til now. All the projects are still concepts under review. The ECB won't jump alone in this new concept that no one can predict its side effects to his financial economy as a whole. They simply had to ignore it or just announce they abandon the project, but they postponed it far in time to wait for what will happen in the future.

Well, I'm pretty sure that several CBDCs have already been launched, but they haven't been successful. The one that comes to mind is Nigeria's e-Naira.

From $10 Million Transactions to Zero: What Lessons Can Be Learned from eNaira’s Failure

I don't know if any colleagues from Nigeria could give us their particular perspective on the subject, although the linked article is quite detailed.

It doesn't need Nigerian colleagues to confirm the failure of eNaira because if it was successful we had to listen about it. This is what i exactly meant, there are no successful initiatives that can be a good example. ECB was about to jump in an unknown adventure so it can be one of the first to learn from how things work with this kind of development.

I guess they came to an answer that dealing with cryptocurrencies is much more better for their FIAT model to not get infected by what CBDC may cause.

[fillippone]

As you may have noticed, there is no single CBDC project has been proven successful til now.

In an incredible marketing stunt, Mdme Lagarde told the public that the CBDC were very successful in… China.
That poor lady has no idea of what she’s doing.
She lacks the basic understanding of reality to say something like that.

[Iranus]

Not only stablecoins will become illegal, but also traditional cryptocurrencies such as Bitcoin and Ethereum. I mean, that's the plan. To force the use of CBDCs and get rid of crypto for good. All of the countries that support crypto (including the EU) are only doing it because they're interested in the tech. Not because they support decentralization and true monetary freedom (which are the core principles of crypto/Blockchain tech).

The EU has always been against crypto (particularly the ECB), so I wouldn't be surprised if it does a "full blanket ban" on crypto after the launch of the Digital Euro. I doubt it's going to be a success, but anything's possible. China already has its own CBDC and it's doing "well". Maybe the EU will learn something from it?

There is no denying that the ECB has always had an unfriendly, if not hostile, attitude towards crypto in general. In 2025, crypto has become globally popular and matured significantly, but instead of promoting it like the US. The EU and ECB continue to warn about risks such as asset bubbles and illegal activities related to crypto.

But I don't think they will ban them after release CBDC. If they ban crypto, they will lose a significant source of tax revenue and face many challenges and disadvantages by refusing to integrate with the development of technology. Instead, there will likely be tighter regulations on crypto, and I wouldn't be surprised if they ban the use of non-custodial wallets and force investors to only use centralized services they manage.

[abhiseshakana]

In an incredible marketing stunt, Mdme Lagarde told the public that the CBDC were very successful in… China.
That poor lady has no idea of what she’s doing.
She lacks the basic understanding of reality to say something like that.

In the race between control and freedom, speed is not the key to victory, but resilience. Lagarde probably believes that anyone who rushes into the digital currency era will lose sovereignty before they can build it. I suspect that calling China a success isn't because she admires China's control system, but because the e-CNY is the only fully functional CBDC in the real world. Success (in Lagarde's dictionary) means operating without causing financial instability. Lagarde realizes that China's success with the eCNY isn't because its society is more innovative, but because its system is centralized and easily controlled. The eCNY in China is part of a social control framework and controls economic behavior. Meanwhile, in the EU, the ecosystem of countries, cultures, privacy laws, and monetary sovereignty is extremely complex. One wrong move equals a crisis of confidence in the ECB.

Lagarde is buying time, and while Europe waits, Bitcoin continues to operate permissionlessly, without borders, and without delay. I believe we are witnessing the greatest transition in the history of modern money, between money as a tool of control (CBDC) and money as a tool of freedom (Bitcoin).

There is no denying that the ECB has always had an unfriendly, if not hostile, attitude towards crypto in general. In 2025, crypto has become globally popular and matured significantly, but instead of promoting it like the US. The EU and ECB continue to warn about risks such as asset bubbles and illegal activities related to crypto.

But I don't think they will ban them after release CBDC. If they ban crypto, they will lose a significant source of tax revenue and face many challenges and disadvantages by refusing to integrate with the development of technology. Instead, there will likely be tighter regulations on crypto, and I wouldn't be surprised if they ban the use of non-custodial wallets and force investors to only use centralized services they manage.

In other words, the ECB wants to reap the benefits of blockchain technology without losing control. A paradox they struggle to resolve. This is where Bitcoin shines: it's permissionless, requires no validation, and isn't subject to the cycles of monetary policy. So, the ECB won't just ban crypto, it won't fully embrace it either. What the ECB will do is create a legal framework within which crypto can thrive, as long as it doesn't leave its system. Meanwhile, Bitcoin will remain outside the fence with dignity, not to rival the euro, but as a check and balance against an overly concentrated global monetary system.

[fillippone]

Lagarde is buying time, and while Europe waits, Bitcoin continues to operate permissionlessly, without borders, and without delay. I believe we are witnessing the greatest transition in the history of modern money, between money as a tool of control (CBDC) and money as a tool of freedom (Bitcoin).

True, and this is why I am relaxed about the long term.
As an European, I am also concerned in the short term, when my bureaucrats are taking the exact opposite stance than the US, and probably losing the fight.
They will have to rush and amend the MICAR regulation (European body of laws about crypto) to make it GENIUS compatible.
Useless.

[coupable]

As you may have noticed, there is no single CBDC project has been proven successful til now.

In an incredible marketing stunt, Mdme Lagarde told the public that the CBDC were very successful in… China.
That poor lady has no idea of what she’s doing.
She lacks the basic understanding of reality to say something like that.

I can't imagine how she is that confident to release those positions while people can't realize what should be this CBDC from the Euro in its digital form.
This confirms the extent to which decision-makers can be ignorant of what they are doing. Mdme Lagarde with the full european committee were confused about what can they do to fight against the spread of cryptocurrencies from one side, and to find solution for the crisis the Euro is facing since mid 2022 (Russia-Ukraine invasion).

[retreat]

The idea of ​​CBDCs has been around for a long time. I remember how many countries were excited about launching their own CBDCs a few years ago, even planning everything around it, believing it would revolutionize their country's finances and change the way people transact - a hyped narrative promoted by governments. But as of the end of 2025, not a single country has actually launched their CBDC. So far, what I've read is only a framework, with no concrete implementation. This suggests that the government itself isn't entirely sure what they want to do - they don't see it as a viable solution at this point, when other payment gateways offer solutions that are nearly identical to what CBDCs offer.

[Don Pedro Dinero]

But as of the end of 2025, not a single country has actually launched their CBDC. 

I'd rather say that as of the end of 2025 some people on bitcointalk keep commenting on short threads without actually reading the previous comments.

True, and this is why I am relaxed about the long term.
As an European, I am also concerned in the short term, when my bureaucrats are taking the exact opposite stance than the US, and probably losing the fight.
They will have to rush and amend the MICAR regulation (European body of laws about crypto) to make it GENIUS compatible.
Useless.

I'm not sure they're going to pass such legislation. Leaving stablecoins to compete freely would mean a crushing defeat for the euro. There is no demand for euro stablecoins. That's why there's so much insistence on CBDC, which they've now had to postpone.

[fillippone]

But as of the end of 2025, not a single country has actually launched their CBDC. 

I'd rather say that as of the end of 2025 some people on bitcointalk keep commenting on short threads without actually reading the previous comments.

True, and this is why I am relaxed about the long term.
As an European, I am also concerned in the short term, when my bureaucrats are taking the exact opposite stance than the US, and probably losing the fight.
They will have to rush and amend the MICAR regulation (European body of laws about crypto) to make it GENIUS compatible.
Useless.

I'm not sure they're going to pass such legislation. Leaving stablecoins to compete freely would mean a crushing defeat for the euro. There is no demand for euro stablecoins. That's why there's so much insistence on CBDC, which they've now had to postpone.

If you look at Euro stablecoins they basically have little to non existent market capitalisation. This means basically no one wants the euro outside Euro.
Actually, if not even the Europeans want the euro, why should anyone else?

[Don Pedro Dinero]

If you look at Euro stablecoins they basically have little to non existent market capitalisation. This means basically no one wants the euro outside Euro.
Actually, if not even the Europeans want the euro, why should anyone else?

We agree on the basics here. I think you haven't realised because I put a hyperlink on the text

There is no demand for euro stablecoins. 

Which links to the following article:

https://cryptoslate.com/euro-stablecoins-are-0-15-of-the-market-heres-how-europe-catches-up

The subtitle is quite revealing:

ECB advisor warns euro stablecoins face strategic risk amidst rising dollar dominance

0.15% is the total market cap for Euro stablecoins in the world but I've heard that even within the Euro zone is 1%, so like 7 times the global percentage but still minuscule.

[Lucius]

Did you forget China? They have been rolling out CBDC since 2019 and so far things are going pretty well.

You can't compare China and the European Union in almost anything, considering they are two different worlds. In China, no one asks the common man what he wants, decisions are made at the top of the Communist Party and implemented without any further discussions or questions. Some will therefore say that communism is effective, but considering that I had the misfortune to feel its effectiveness on my skin, I would rather be a beggar on the street than live in such a system.

Also, based on my research, the ECB is just delaying and they just want things to be more prepared and perfect. They are extremely serious about their digital euro project and see it as a strategic card to counter the US GENIUS Act because they fear it will weaken the euro's position.

I don't know what the real reasons are, but there are a lot of bad decisions and obviously a lot of incompetent people are working on that project. Maybe they simply lack funds because many projects will suffer due to the ReArm Europe Plan, which will cost around EUR 800 billion in the next 5 years, which is a lot of money even for the EU.

[coupable]

Also, based on my research, the ECB is just delaying and they just want things to be more prepared and perfect. They are extremely serious about their digital euro project and see it as a strategic card to counter the US GENIUS Act because they fear it will weaken the euro's position.

I don't know what the real reasons are, but there are a lot of bad decisions and obviously a lot of incompetent people are working on that project. Maybe they simply lack funds because many projects will suffer due to the ReArm Europe Plan, which will cost around EUR 800 billion in the next 5 years, which is a lot of money even for the EU.

The war knocks the european door. This is an important point that no one talked about when discussing the CBDC failure in ECB. The first thought that came to my mind is about who will be able to use this CBDC euro at the time of war.