Ayuso sees digital euro launch in 2029 subject to legislation
A digital euro could launch in 2029 if preparations and legislation progress as planned, Banco de España's Juan Ayuso told Última Hora in an interview published October 14, 2026. Earlier trials remain possible.
European control without central-bank tracking
Juan Ayuso, Director General of Operations, Markets and Payment Systems at Banco de España, said Eurosystem central banks would issue the digital euro.
European-regulated financial institutions would distribute it over infrastructure controlled by European authorities and companies.
He contrasted this with cards' reliance on non-European companies and stablecoin issuers that are not always regulated banks or within European jurisdiction.
Offline payments would be almost anonymous.
Online payments would leave a trace visible to distributing private banks, but central banks would see only numbers and letters identifying neither payer, recipient nor transaction type.
The aim is to preserve the balance between public and private payments.
Cash keeps its place
Ayuso said the digital euro would complement cash, cards and Bizum rather than replace them.
He gave three reasons to retain cash: financial inclusion, resilience during disruptions such as the DANA floods and blackout, and avoiding dependence on a single provider.
In the Balearic Islands, residents and domestic and foreign tourists would gain another way to pay for goods and services.
Visitors from euro area countries would use it as they do at home, with payments available across euro area countries and shops.
Offline does not mean unlimited
Ayuso said offline payments would work during a blackout only while phones and payment terminals retained battery power.
He noted that many merchants already keep multiple terminals to cover failures.
Any limits on digital euro use must comply with anti-money-laundering and illegal-financing rules.