The Banco de España sees 2029 as a possible launch year for the digital euro. This was stated by Juan Ayuso, Director General for Operations, Markets and Payment Systems at Spain’s central bank, in an interview with the Mallorcan newspaper Última Horaon 14 October 2026. The timetable is a forecast and depends on legislation at European level still to be completed and on technical testing, the Banco de España also says in an accompanying press release.
Ayuso describes the digital euro as public money backed by the central bank, which is intended to complement Cash and private digital solutions. The aim is to maintain a balance between public and private payment instruments. He cites financial inclusion, greater resilience to outages and reduced dependence on non-European payment providers as reasons for its introduction.
On technical details, Ayuso says the digital euro is to have two modes of operation. An offline function would allow payments without a network connection; an online version would allow transactions to be traced. On privacy, the central bank emphasises that the system architecture would prevent it from accessing personal payment data. payment service providers would have access only to a limited extent, to meet their legal obligations. Offline payments are intended to be “practically anonymous”, but with time and value limits to comply with anti-money laundering rules .
For Spain and especially for service-based regions such as Balearic Islands the digital euro could, according to Ayuso, simplify payment processing for domestic and European travellers by providing a single means of payment usable across Europe. He also stresses the importance of cash for inclusion and resilience in a crisis, and says it will remain available. Ayuso does not rule out pilot phases and limited testing before a possible launch in 2029.
The Banco de España’s comments form part of the ongoing EU debate on central bank-backed digital money. Naming a target year is relevant to policymakers, regulators and the payments industry, but remains conditional. European legislation, technical specifications and the results of pilot projects could bring the timetable forward or delay it. Ayuso’s remarks should therefore be understood as carefully qualified assessments, not a final commitment.
Editor: Daniel Mayer (Article created with AI assistance).