The digital euro is increasingly central to Europe’s financial sovereignty as global tensions turn payment systems into strategic infrastructure, according to ECB executive board member Piero Cipollone. He described the digital euro as public money in digital form, designed to complement cash and modernize payments as e-commerce and digital transactions continue to grow.
Cipollone said Europe’s heavy reliance on non-European payment providers creates structural vulnerabilities in a world where financial tools can be weaponized. He argued that a European-controlled system, built on domestic technology and standards, would reduce dependencies while ensuring continuity of payments under stress scenarios.
The ECB official also emphasized that the digital euro would carry legal tender status, requiring acceptance by merchants that already support digital payments. He said a single, open standard could encourage banks and fintechs to build a unified European payments layer, addressing fragmentation while preserving public oversight of money in an increasingly digital economy.
