ECB Warns of Fraudulent Letters Tied to Digital Euro Pilot

The European Central Bank warned that letters inviting people to invest in a purported digital euro pilot are fraudulent. The ECB advised anyone who suspects they fell victim to the scheme to contact local police.

The digital euro has not been issued. Its planned 12-month pilot with 36 selected payment providers is scheduled for the second half of 2027, as outlined in the ECB’s digital euro pilot plan. The proposed currency is intended to function as digital cash alongside banknotes and coins.

Issuing the digital euro would require European Union legislation, followed by a decision by the ECB.