European Central Bank: The digital euro will enhance the competitiveness of European banks, and will be officially launched in 2029.
1 hours ago
ECB Executive Board member Piero Cipollone stated that the digital euro will help enhance the competitiveness of European banks. Cipollone said on Tuesday that the digital euro project is not merely intended to fill current gaps in Europe’s payment system. “It is also an opportunity to look ahead and provide an innovative platform. New opportunities are emerging constantly, and we want to ensure European payment service providers have full capability to seize these opportunities and build strong competitive advantages,” he noted. The European Central Bank plans to officially launch the digital euro in 2029, with a pilot phase set to begin next year. The project aims to safeguard Europe’s monetary sovereignty. At present, Europe remains highly dependent on U.S. payment companies like Visa and Mastercard, and the growing development of dollar-pegged stablecoins has further intensified concerns among European policymakers.
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