Piero Cipollone, Member of the ECB's Executive Board, provided an update on the digital euro in an interview published on October 24, 2026. He highlighted the strategic importance of payments. The digital euro is crucial for the sovereignty and proper functioning of European systems, offering secure public money for the online economy.

Its necessity stems from the increasing reliance on non-EU payment schemes for online transactions, as seen in Italy, where the share of online payments in total payments rose from 6% in 2019 to 24% in 2024. The digital euro aims to bridge the cash gap in the online world, reducing fees for small merchants and promoting competition.

It will function both online and offline, allowing payments even without a connection and protecting privacy. It will be distributed through bank or Eurosystem apps; the ECB will not open accounts. Limits on the amount held are foreseen for financial stability, but not on payments.

A pilot launch is set for 2027 (ECB and central bank staff). If regulation is approved by the end of 2026, implementation could occur in 2029. The goal: a resilient payment ecosystem where cash, the digital euro, and banking services will coexist.