European Central Bank Executive Board member Piero Cipollone said the digital euro is expected to strengthen the competitiveness of European banks and is planned for a formal launch in 2029, according to ChainCatcher. He said the project is designed to address shortcomings in the payment system while also serving as a platform for future innovation. The pilot phase is scheduled to begin next year. Cipollone said the effort is also aimed at safeguarding Europe’s monetary sovereignty. The remarks outline both the proposed timeline and the policy goals attached to the central bank digital currency project.
European Central Bank Executive Board member Piero Cipollone said the digital euro is expected to strengthen the competitiveness of European banks and is planned for a formal launch in 2029, according to ChainCatcher.
Cipollone said the project is intended to address shortcomings in the payment system and provide a platform for future innovation. The pilot phase is set to begin next year, with the effort also aimed at safeguarding Europe’s monetary sovereignty.
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