ECB Official Says Digital Euro Could Strengthen Europe’s Payment Control

European Central Bank Executive Board member Piero Cipollone said a proposed digital euro could give Europe more control over payment infrastructure that relies on non-European providers, framing the project as a matter of payment sovereignty. Cipollone said sovereignty would not mean shutting out outside providers. “It means having the power to choose and knowing that, for an essential service like payments, Europe can also rely on its own strength.” He also pointed to energy and defense as areas where Europe has learned the risks of depending on third parties, arguing that payments raise a similar concern.

Source: TokenPost