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ECB Promotes Digital Euro as a Sovereign Cash Alternative

Piero Cipollone, member of the ECB executive board, highlighted the relevance of the digital euro for the health of sovereign payments in Europe. He …

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As the current environment moves towards an omnipresence of the digital banking method, the geopolitical and technological risks to our economies are changing the situation. ...

·Brussels, Belgium
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Lean Left

According to ECB Executive Board member Piero Cipollone, providing only cash limits the mission of central banks in some ways because they do not offer a payment method for an important part of everyday life, which is online shopping.

A digital euro is intended to protect Europe's autonomy and enable digital payments that are not based on technical infrastructure from America, China or other countries. On Thursday, representatives of the National Bank (OeNB) argued for the creation of a digital twin of euro cash. Estimates that the introduction could cost up to EUR 30 billion in total have been relativised.

·Salzburg, Austria
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CoinGeek broke the news in on Thursday, July 10, 2025.
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