Search results for Piero Cipollone
Crypto
ECB warns stablecoin spread could undermine European bank deposit base
The European Central Bank has warned that the spread of stablecoins could eat into European banks’ retail deposits and has put forward a digital euro as a response. Executive Board member Piero Cipollone said banks that have already lost fees and transaction data to mobile payments could see their deposit base shaken. The ECB said falling deposits could weaken lending capacity and is moving ahead with a digital euro pilot planned for 2027.
Crypto
ECB to push digital euro pilot in 2027, select payment firms in Q1 this year
The European Central Bank is speeding up a pilot project aimed at introducing a digital euro, Cointelegraph reported on Feb. 18. ECB Executive Board member Piero Cipollone said selection of EU payment service providers will begin in early 2026. The ECB plans to run a 12-month pilot from the second half of 2027. Cipollone said the project is designed to protect European card systems and keep banks at the core of euro zone payments.
Crypto
ECB\'s Cipollone says digital euro essential to secure payment sovereignty
European Central Bank board member Piero Cipollone stressed the need to introduce a digital euro to ensure the independence of Europe’s payment system, Cointelegraph reported on Jan. 28, citing Spanish media. He called the digital euro a digital version of cash and a key element for strengthening payment sovereignty in the European economy. Cipollone said all merchants that accept digital payments would need to accept it if it becomes legal tender.