ECB emphasizes that physical cash remains essential while introducing a digital euro to counter the rising influence of unregulated private stablecoins, amid low public interest in digital alternatives.
ECB Executive Board member Piero Cipollone reiterated that banknotes will remain central to payments, even as the ECB prepares to roll out a digital euro. The move is intended to curb the growing dominance of privately issued stablecoins in cross-border transactions, with recent surveys showing limited public enthusiasm for digital euro adoption.