The European Central Bank (ECB) is advocating for the introduction of a digital euro, emphasizing its potential to enhance payment sovereignty and reduce reliance on foreign infrastructure. ECB Executive Board member Piero Cipollone highlighted the digital euro's convenience and inclusivity, stating it would be usable across the euro area, including in small shops and for individuals without smartphones. Cipollone assured that the digital euro would be free for basic use, akin to cash, and would not replace existing payment methods. Cipollone stressed the strategic importance of a European-controlled digital currency, citing concerns over dependence on non-European technology. He referenced instances where foreign sanctions impacted payment capabilities, underscoring the need for a European infrastructure. The digital euro aims to provide a robust alternative, ensuring that Europe retains control over its payment systems and can scale private solutions across borders. Cipollone warned that delays in launching the digital euro could increase reliance on foreign systems, advocating for a mid-2029 launch.