European Central Bank Executive Board member Piero Cipollone has emphasized the importance of a digital euro in maintaining Europe's strategic autonomy. Speaking on January 30th, Cipollone highlighted the need to reduce reliance on non-European payment systems like Visa, Mastercard, and PayPal. He noted that Europe's current dependence on these systems could increase without intervention. The digital euro is set to enter a pilot phase in 2027, with issuance planned for 2029. Cipollone clarified that the digital euro initiative is not a reaction to any specific country or company but is part of the ECB's duty to ensure a stable payment system and mitigate risks from over-reliance on external infrastructure. He also expressed concerns about stablecoins, suggesting they could threaten financial stability, and advocated for a reliable euro-denominated alternative. The legal framework for the digital euro is pending approval from the European Parliament, where some members prefer a private sector solution.