ECB official says digital euro could strengthen EU payments sovereignty

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European Central Bank Executive Board member Piero Cipollone said the digital euro could reduce the European Union’s dependence on non-European payment providers and strengthen its control over critical payment infrastructure.

In an interview published on Saturday, Cipollone said Europe needed to ensure the resilience of essential services, including payments. He stressed that sovereignty did not mean excluding external providers, but ensuring the bloc could also rely on its own infrastructure.

The ECB plans to test the digital euro in a pilot next year using real transactions by ECB and national central bank staff. Thirty-six market operators are helping prepare for the trial, with the central bank inviting e-commerce and mobile-commerce businesses to participate.