Digital euro set for launch as EU challenges Visa and Mastercard | ID…

The EU has entered final negotiations on digital euro legislation, with ECB formal approval expected January 2027 and public launch in 2029 following a pilot with 40 banks. The central bank-issued digital currency aims to reduce EU dependence on US payment providers like Visa and Mastercard, with free consumer access, capped individual holdings (EUR 3,000 proposed), and mandatory merchant acceptance. If you build payment infrastructure in Europe, a state-backed competitor launches in 2029 with zero fees and mandatory merchant acceptance. Visa and Mastercard just became the incumbents you're disrupting—start talking to banks now about what they'll need to migrate volumes away.