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ECB Official Says Digital Euro Could Secure EU Payment Sovereignty

1 reports1 sources10/25/2026 updated

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Pierro Cipollone, a member of the ECB Board, argues that the upcoming digital‑euro pilot could grant the EU payment‑system sovereignty and reduce reliance on non‑European third parties. He notes that, like energy and defence, payments are currently dominated by external providers—about two‑thirds of euro‑zone card transactions are handled by non‑European firms. The pilot, involving 36 market operators (seven from Italy), aims to create a European‑owned infrastructure that could lower this dependence. Cipollone’s remarks echo earlier concerns about external influence on critical services, but the ECB has yet to commit to a definitive launch timeline. While the pilot’s potential benefits are highlighted, critics question whether it will truly replace existing systems or merely add another layer of complexity. The debate continues as the EU weighs the trade‑offs between sovereignty and integration with global payment networks.

Written with AI from the reporting · updated 10/25/2026

Latest developmentOct 25, 23:11
ECB Executive Board Member Piero Cipollone Highlights Digital Euro Pilot as Path to EU Payments Sovereignty
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  1. 1Unclassified fact stationOct 25, 00:00recorded Oct 25, 23:24single sourcerevised

    ECB official sees digital euro as key to protecting EU sover

    Read original source ↗ CointelegraphReplay this moment in the explorer
    Evidence & revisions · 1 source records
    Subject：
    Piero Cipollone
    Action：
    interview
    Object：
    digital euro pilot
    Occurred (fact side)：
    Oct 25, 00:00
    Cointelegraph ↗Report pageRevision 2 · currently revised
    Published (valid side)：
    Oct 25, 23:11
    First seen (known side)：
    Oct 25, 23:24
    Fact stationSingle source · one-sided claimRevised

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Oct 25
  1. CointelegraphRelated fact: single sourceSource report revised
    ECB Executive Board Member Piero Cipollone Highlights Digital Euro Pilot as Path to EU Payments Sovereignty

    Report first recorded Oct 25, 23:24

    Piero Cipollone, a member of the European Central Bank’s Executive Board, said the digital euro pilot slated for next year could give the EU greater control over its payments infrastructure, which currently relies heavily on non‑European third parties. He noted that two‑thirds of euro‑area card transactions are governed by non‑European companies and that the digital euro could reduce this dependence. The pilot will use real transactions conducted by ECB and national central bank staff, with 36 market operators—including seven from Italy—already collaborating. Cipollone emphasized that sovereignty does not mean excluding third parties entirely but rather having the power to choose and ensuring the reliability of essential services such as payments. The ECB Governing Council can only decide on issuing the digital euro after legislative negotiations in Brussels conclude, with Cipollone hoping regulation will be adopted by year‑end.

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