Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
European Central Bank touts digital euro as key to payment security and inclusivity

European Central Bank touts digital euro as key to payment security and inclusivity

CryptoSlateCryptoSlate2025/09/04 13:05
By:Assad Jafri

The European Central Bank said that its proposed digital euro would strengthen Europe’s defenses against cyber and infrastructure disruptions while ensuring broad access to digital payments.

Piero Cipollone, a member of the ECB’s Executive Board, told the European Parliament’s Economic and Monetary Affairs Committee that resilience and inclusiveness must be central features as the bloc prepares to complement physical cash with a central bank-issued digital version.

The remarks marked the ECB’s 14th update to lawmakers on the central bank digital currency project.

Building resilience in payments

Cipollone said Europe’s reliance on foreign payment providers exposes citizens to risks in times of crisis. He cited incidents ranging from undersea cable sabotage in the Baltic Sea to recent power outages in Spain and Portugal as examples of how vulnerable infrastructures can disrupt daily transactions.

He argued that the digital euro would provide “spare capacity” in the financial system by adding public payment rails alongside private solutions.

Planned safeguards include transaction processing across multiple regions, a mandatory ECB-run app to ensure continuity if banks are targeted by cyberattacks, and offline functionality that would allow peer-to-peer payments during power or network outages.

Ensuring inclusion for all citizens

Cipollone stressed that the digital euro must also serve Europeans at risk of being excluded from a cash-light economy.

He pointed to more than 30 million people in Europe who are blind or partially sighted, at least 34 million who are deaf or hard of hearing, and citizens with limited digital literacy.

The ECB said it is working with consumer groups to design adaptive interfaces, including voice commands and large-font displays, and will require payment providers to support its own app to guarantee basic access.

Local institutions such as post offices and libraries could also provide free support to those least familiar with digital tools.

The post European Central Bank touts digital euro as key to payment security and inclusivity appeared first on CryptoSlate.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Morgan Stanley warns: old storage prices are peaking, supply and demand may turn relaxed by 2028

Morgan Stanley pointed out that after the U.S. midterm elections, it is expected that about 20% of the new data center capacity in the United States originally planned for 2028 will be postponed to 2029. This may cause a "gap" in the supply chain in 2028, resulting in the risk of excess inventory of legacy storage. Legacy storage is less bound by long-term fixed price contracts, so a narrowing supply-demand gap could lead to significant price fluctuations. The above analysis refers only to legacy storage, including DDR3/4, SLC/MLC NAND, and NOR flash.

华尔街见闻•2026/11/11 15:31
Morgan Stanley warns: old storage prices are peaking, supply and demand may turn relaxed by 2028