A three-pillar plan for a digital euro would aim to bolster Europe’s financial autonomy, reduce reliance on non-European payment systems and could affect the region’s stablecoin market, with a first issuance possible by 2029.
ECB board member Piero Cipollone outlined a three-pillar plan for the digital euro as part of a push to strengthen Europe’s payment sovereignty. The proposal casts a central bank digital currency as a way to reduce reliance on non-European payment systems and reinforce the region’s financial autonomy during geopolitical strain. The plan could also reshape Europe’s financial landscape by affecting stablecoins, while a first issuance of the digital euro is presented as possible by 2029.