Interview with European Central Bank official on digital euro

On January 15, 2026, Piero Cipollone was interviewed by Markus Zydra and Meike Schreiber regarding the digital euro.

He explained that the digital euro is designed to be easy to use and accepted everywhere in the euro area, including small retailers and online platforms. It will be free for basic use, similar to cash, and can be stored on servers or smartphones, with options for offline use.

In case of theft or loss, the digital euro remains secure; funds can be recovered or blocked, and offline stored money is comparable to physical cash. The digital euro aims to enhance European technological sovereignty, reducing dependence on US-based payment infrastructure like Visa and Mastercard.

The digital euro will support conditional payments and automate refunds, but cannot be used to block purchases or track individual transactions. Privacy is protected, with transactions recorded only as encrypted codes, ensuring user anonymity.

Offline functionality allows payments in remote areas or during outages, with privacy similar to cash. The project is progressing, with a pilot starting next year and issuance expected in 2029. Delays increase reliance on foreign payment systems, and the ECB emphasizes the importance of timely implementation.