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Central banks and marketsSun 25 Oct 2026 · 9 of 10

ECB board member outlines digital euro progress and payment system role

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At a meeting of the Italian Banking Association, tokenisation was a main topic and the digital euro was also discussed . Piero Cipollone said the digital euro is currently being debated in Brussels and the Eurosystem is preparing internally . He emphasized that payments are a strategic infrastructure for Europe and that central banks are mandated to ensure their smooth functioning . According to Cipollone, the digital euro would fill the gap for online transactions where cash cannot be used, providing a cash‑equivalent digital payment instrument .

Why it matters. The digital euro would give people the freedom to make online payments with a cash‑equivalent instrument, enhancing payment continuity for consumers .

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