Digital euro will strengthen the EU's financial independence, says Piero Cipollone
Date: 2025-05-16 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
At the France Payments forum, Piero Cipollone emphasized that the transition to digital means of payment has already become an obvious trend, despite the continued presence of cash in circulation. People are massively choosing private digital services due to their convenience, but these decisions do not always take into account public interests. In this regard, Cipollone advocated for the rapid implementation of the digital euro - an initiative that should strengthen the EU's position in financial terms.
He noted that the dominance of private companies in the payment services sector creates risks of excessive dependence on them. A digital currency issued by the Central Bank will reduce this vulnerability and give citizens an alternative. According to Cipollone, the release of a digital euro is critical to maintaining Europe's monetary sovereignty, especially as the US and other major economies adapt their legal frameworks to accommodate stablecoins.
Cipollone also assured that the emergence of a digital currency does not mean the abandonment of cash: paper money will continue to exist. However, the digital euro will be a useful and reliable addition available to every EU resident. At the same time, he clarified that the currency will not have a programmability function - users will be able to use it at their own discretion, without external control over spending purposes.
The development of the digital euro is ongoing, and, according to the ECB, the ultimate goal of the project is to provide round-the-clock access for all Europeans. However, the exact launch dates are still unknown. Earlier in March, ECB President Christine Lagarde said that the preparatory stage for the introduction of the digital currency would begin in October 2025. At the same time, the final decision on the launch will remain with European legislators.
