ECB Official Says Digital Euro Could Bolster Europe’s Payment Sovereignty
Piero Cipollone of the European Central Bank highlights the potential of a digital euro to reduce dependence on foreign payment systems through European-based technology.
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Terms & Concepts
Digital Euro: A proposed central bank digital currency (CBDC) issued by the European Central Bank for use across the eurozone.
Payment Sovereignty: A nation or region's ability to control and operate its own payment infrastructure without reliance on foreign systems.
European Central Bank (ECB): The central bank responsible for managing monetary policy for the eurozone countries.