Piero Cipollone highlights 2027 pilot and 2029 rollout plans for the digital euro, aiming to curb reliance on foreign payment networks and address potential stablecoin risks.
European Central Bank board member Piero Cipollone reaffirmed the need for a Europe-led digital payment system to reduce dependency on non-European providers such as Visa and PayPal. He confirmed the ECB plans to pilot the digital euro in 2027, with a possible public issuance in 2029, pending approval from the European Parliament. The digital euro is intended as public money to complement cash and safeguard financial sovereignty. Cipollone also cautioned that privately issued stablecoins could threaten financial stability if left unregulated.