ECB Executive Board member Piero Cipollone says a digital euro, set for a pilot next year, could give the EU “sovereignty” over payments infrastructure that currently depends on non-European third parties. He argues Europe cannot rely only on outside providers for essential services such as energy, defense and payments, and notes that two-thirds of euro-area card transactions are governed by non-European companies. The pilot will use real transactions by ECB and national central bank staff, with 36 market operators, including seven from Italy, helping prepare it. Cipollone hopes EU legislation will be adopted by the end of the year so the ECB Governing Council can issue a formal decision on issuance, and the bloc is on track to test real transactions in 2027 and roll out the digital euro as early as 2029.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: ECB official sees digital euro as key to protecting EU ‘sovereignty’
Read the original on Cointelegraph ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
EUR/USD
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/23/2026 | 1.12044 |
| Change that session | -0.11% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Piero Cipollone: Interview with Milano Finanza
In an interview with Milano Finanza, ECB Executive Board member Piero Cipollone said payments are a strategic infrastructure and the digital euro would give Europe its own alternative, offering privacy like cash. He noted online payments in Italy grew from 6% of the total in 2019 to 24% in 2024, and two thirds of online card payments use non-European card schemes. He said small merchants can pay fees up to four times higher than large operators, and the digital euro would increase competition and, through legal caps on costs, help reduce fees. The ECB plans a pilot in 2027 with 36 market operators, seven of them Italian, and could roll out the digital euro as early as 2029 if the regulation is approved this year.
- Sweden Riksbank Urges Preparations For Potential Digital Krona Amid ECB Digital Euro Push
The Riksbank formally asked Swedish lawmakers, in a communication published on October 15, 2026 and dated October 7, to begin preparatory work on legislation enabling a digital krona, while stating it has not taken a position on issuance. It cites deteriorating geopolitics, hybrid threats including cyberattacks, and the fact that roughly 95% of Sweden's financial sector is privately run, along with the European Central Bank's digital euro, which is planned for a pilot in the second half of 2027 and a possible launch in 2029 serving around 350 million people. The central bank judges the near-term risk from foreign-currency stablecoins to krona demand as limited, though not negligible over the longer term. Because technical preparation would take at least five years, it argues a public inquiry should start now, possibly leveraging the ECB's digital euro infrastructure, with the final decision resting with the Riksdag.
- Sweden revisits digital krona as ECB advances digital euro plans
Sweden's Riksbank has urged lawmakers to begin preparing legislation for a possible digital krona, even though it has not decided to launch a CBDC. In an Oct. 7 letter to parliament's Finance Committee, the central bank cited the ECB's digital euro pilot planned for 2027 and a potential public launch in 2029, as well as the growing use of stablecoins pegged to the US dollar. The Riksbank warned that if foreign-currency stablecoins become attractive as a means of payment, the Swedish krona could come under pressure even within Sweden, though it sees the near-term risk as limited. It estimates that introducing a digital krona would take at least five years, excluding legislative changes.
- International Business : Euro zone private sector growth slows
The S&P Global flash euro zone composite PMI fell to 51.9 in October from 53.1 in September, its lowest since June and below every forecast in a Reuters poll, as energy-driven cost increases and a renewed contraction in France weighed on activity. Input costs rose for a second consecutive month, but firms raised selling prices more slowly than in September, suggesting squeezed margins. Higher interest rates are also starting to dampen demand, and a Reuters poll expects the ECB to hold its 2.50% deposit rate next week before raising it by 25 basis points in December, as inflation runs at nearly double its 2% target. Business confidence fell to a five-month low, with manufacturing seeing the sharpest drop, while France showed contraction and its business confidence hit the lowest since 2012 outside the pandemic period. French government borrowing costs have also jumped on investor concerns about the country's finances.
- International Business : Euro zone private sector growth slows
Euro zone private sector growth slowed in October to its weakest pace in four months, as energy-driven cost increases and a renewed contraction in France weighed on activity. The S&P Global flash Composite PMI Output Index fell to 51.9 from 53.1 in September, its lowest since June and below all forecasts in a Reuters poll that had predicted 52.7. Input costs rose sharply again, linked to higher energy, fuel and transport costs partly due to the Middle East war, and firms raised selling prices at a slower pace than in September. Higher interest rates are also beginning to dampen demand, and a Reuters poll expects the ECB to hold its deposit rate at 2.50% next week before raising it by 25 basis points in December. Business confidence fell to a five-month low, with France standing out for pessimism, as its PMI pointed to contraction and confidence hit its lowest since 2012 outside the pandemic period.
- Eurozone October PMI misses estimates as growth slows , keeping ECB rate hike dilemma alive
Related markets
Latest news
- Forces from 11 countries close in on Russia – Moscow reveals where Iskander struck, warns one country about “November 11 turning point”
According to Warfiles, about 2,800 personnel from 11 countries are expected to take part in the Koalicja exercise in Poland from 9 to 22 November, co-led by the UK and France, and the article stresses it is not an official NATO exercise. Poland is also boosting security near Kaliningrad after warnings of possible sabotage, while Moscow warned one country it will soon have to make a choice ahead of a “turning point” decision. In Ukraine, Russian media reported a strike that caused a large fire at a warehouse complex on the outskirts of Kyiv, described as a logistics base storing UAVs, ammunition and military equipment, with secondary explosions reported. Social media posts in Russia also claimed an Iskander missile had hit a prison in Kyiv.
- Paradox at Apple: Encouraging employees to use AI, but cutting spending limits from US$300 to US$100 per day
According to insiders, Apple quietly cut daily AI spending caps for some engineers from US$300 to US$200 last month and is considering a further cut to US$100 for some technical teams, while non-engineering groups with a US$100 cap could drop to US$25. Employees needing heavier AI use can request exceptions, but these must be approved by senior leaders. Meanwhile, Apple's R&D spending rose 32% in fiscal 2026, mainly due to infrastructure and AI, and total operating expenses grew 22% to US$75.5 billion, or 16% of net revenue. The article notes that Microsoft, Tesla, Uber and Meta have also tightened AI budgets, and argues Apple's challenge is to ensure its AI investment delivers returns commensurate with its cost.
- Piero Cipollone: Shaping the future of money
In a keynote at a conference in Tirana on 5 November 2026, Piero Cipollone, Member of the ECB Executive Board, argued that central banks must ensure the money they issue remains fit for the future by providing a trusted public foundation on which private innovation can flourish. The Eurosystem has adopted a comprehensive payments strategy with four objectives, and Western Balkan countries are integrating payments, with Albania already joining the Single Euro Payments Area and a clone of the TIPS fast payment system operational in Bosnia and Herzegovina and Montenegro. He outlined four initiatives: modernising euro banknotes, developing a digital euro, settling tokenised asset transactions in central bank money, and interlinking fast payment systems. He stressed that cash remains the most resilient form of payment, with more than 31 billion euro banknotes worth over €1.6 trillion in circulation, and next-generation banknotes will feature enhanced security and a smaller environmental impact.
- Should Investors Buy Into the Chipotle Turnaround?
Chipotle recorded its third straight quarter of comparable-store sales growth, and its shares rose nearly 9% on Oct. 29, though they remain down more than 15% year to date. Revenue rose nearly 10% to US$3.29 billion, while adjusted EPS fell 7% to US$0.27, broadly in line with analysts' expectation of US$0.29 according to LSEG. Restaurant-level operating margin fell 120 basis points to 23.3% amid wage inflation, higher labor usage and rising prices. The company expects fourth-quarter comparable-store sales growth of 2% or more, plans a 3% price increase in Q4, and intends to add 350 to 370 new restaurants in 2026. The author says margins have not yet stabilized, views the stock as appropriately valued at 23 times 2027 forward P/E estimates, and says he would prefer not to chase the recent rally.
- 3 Consumer And Travel Stocks To Watch As Oil Falls And The Dollar Softens
The article argues that a political surprise, cheaper oil and a softer US dollar are reshaping the backdrop for global consumer and travel stocks, and highlights three stocks from a high foreign revenue screener. Amer Sports reports revenue of about US$3.2b from Technical Apparel, US$2.8b from Outdoor Performance and US$1.4b from Ball & Racquet Sports, with a market value near US$17.7b. Capri Holdings generates about US$2.8b from Michael Kors and US$632 million from Jimmy Choo, with a market value of roughly US$2.1b. Southwest Airlines generates about US$31.5b from transportation and related services, with a market value near US$21.3b; the article notes that fuel costs make lower oil prices and a weaker dollar especially relevant to its profitability. The screener also surfaced 22 more U.S.-listed companies in the same theme.
- Most investors are blind to the possibility of a market crash. Here is the five-part strategy to survive one.
Jared Dillian, a Wall Street veteran, argues that the biggest problem is that many investors today have not lived through a major market downturn. He says he holds a portfolio that offers protection against such a risk.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.