ECB board member Piero Cipollone said a digital euro would have only a limited effect on banks and financial stability while helping strengthen European payments autonomy and reduce reliance on non-European payment systems and stablecoins.
European Central Bank Executive Board member Piero Cipollone said the digital euro would have a negligible or minimal effect on banks and would not threaten financial stability. He also said the project could support the competitiveness of European lenders and strengthen Europe’s payments sovereignty by reducing dependence on non-European payment systems and stablecoins, crypto tokens designed to hold a fixed value.