European Central Bank Executive Board member Piero Cipollone stated that a digital euro would strengthen Europe's payment sovereignty by reducing dependence on non-European third-party payment providers. He emphasized that while the EU has recognized risks of over-reliance on external forces in critical sectors like energy and defense, the payments domain faces similar vulnerabilities. Payment sovereignty does not exclude third parties but ensures Europe retains autonomous choice over key financial services.
The ECB plans to launch a digital euro pilot next year using real transactions for testing purposes. The bank is currently preparing the initiative with 36 market operators and has extended invitations to e-commerce and mobile commerce participants to join the program.
ECB Official: Digital Euro Pilot to Launch Next Year to Boost European Payment Sovereignty
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