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Home > Finance > Digital euro can help make euro zone self-sufficient in payments, ECB's Cipollone says

Digital euro can help make euro zone self-sufficient in payments, ECB's Cipollone says

Published by Global Banking and Finance Review

Posted on January 29, 2026

1 min read

Last updated: January 29, 2026

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Tags:payments European Central Bank Financial technology innovation

Quick Summary

The Digital Euro is set to make the Euro Zone self-sufficient in payments, boosting its global position, according to ECB's Cipollone.

Digital Euro: A Step Towards Payment Independence for the Euro Zone

The Role of Digital Euro in Payment Self-Sufficiency

MILAN, Jan 29 (Reuters) - The euro zone needs to be self-sufficient in handling payments and the digital euro will provide the necessary infrastructure for retail transactions, European Central Bank Executive Board Member Piero Cipollone said on Thursday.

Cipollone's Insights on Digital Euro

Speaking remotely at a conference in Italy, Cipollone said the digital euro scheme, together with another two projects the ECB is working on for wholesale payments, will give the euro zone the tools it needs "to keep its house in order."

Impact on Europe's Global Position

"That can give it more strength," he said when asked if the digital euro could boost Europe's position vis-a-vis the United States.

(Reporting by Valentina Za, editing by Gavin Jones)

Key Takeaways

•The Digital Euro aims to make the Euro Zone self-sufficient in payments.
•ECB's Cipollone highlights the infrastructure benefits for retail transactions.
•The initiative is part of broader ECB projects for payment systems.
•Digital Euro could strengthen Europe's global position against the US.
•Cipollone discussed these points at a conference in Italy.

Frequently Asked Questions about Digital euro can help make euro zone self-sufficient in payments, ECB's Cipollone says

1What is the European Central Bank?

The European Central Bank (ECB) is the central bank for the euro and is responsible for monetary policy within the Eurozone, ensuring price stability and overseeing the euro currency.

2What are retail transactions?

Retail transactions refer to the sale of goods and services directly to consumers, typically involving smaller amounts compared to wholesale transactions.

The Role of Digital Euro in Payment Self-Sufficiency

Cipollone's Insights on Digital Euro

Impact on Europe's Global Position

"That can give it more strength," he said when asked if the digital euro could boost Europe's position vis-a-vis the United States.

(Reporting by Valentina Za, editing by Gavin Jones)

Key Takeaways

•The Digital Euro aims to make the Euro Zone self-sufficient in payments.

•ECB's Cipollone highlights the infrastructure benefits for retail transactions.

•The initiative is part of broader ECB projects for payment systems.

•Digital Euro could strengthen Europe's global position against the US.

•Cipollone discussed these points at a conference in Italy.

Frequently Asked Questions

1What is the European Central Bank?

The European Central Bank (ECB) is the central bank for the euro and is responsible for monetary policy within the Eurozone, ensuring price stability and overseeing the euro currency.

2What are retail transactions?

Retail transactions refer to the sale of goods and services directly to consumers, typically involving smaller amounts compared to wholesale transactions.