The digital euro will guarantee the maximum level of privacy that current technology can offer, said Piero Cipollone, executive board member of the European Central Bank. Offline payments will only be visible to the payer and beneficiary, while the Eurosystem will not be able to identify parties for online payments, although the banks involved will be able to do so. The European Parliament adopted its negotiating position in July, with a pilot scheduled for the second half of 2027 and first issuance targeted for 2029. The ECB has selected 36 payment providers, including Deutsche Bank, UniCredit and Revolut, for this 12-month pilot.
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