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European Central Bank: Digital Euro to Enhance Payment Security and Inclusivity
Summary: In a recent statement, European Central Bank Executive Board member Piero Cipollone stated at the European Parliament's Committee on Economic and Monetary Affairs that the digital Euro will strengthen Europe's defense against disruptions in networks and infrastructure, while ensuring widespread access to digital payments. Cipollone highlighted the risks faced by citizens during crises due to ...
In a recent statement, European Central Bank Executive Board member Piero Cipollone stated at the European Parliament's Committee on Economic and Monetary Affairs that the digital Euro will strengthen Europe's defense against disruptions in networks and infrastructure, while ensuring widespread access to digital payments. Cipollone highlighted the risks faced by citizens during crises due to Europe's reliance on foreign payment service providers. The digital Euro aims to provide 'resilience' to the financial system by adding public payment channels beyond private solutions. Planned security measures include cross-border transaction processing, mandatory European Central Bank-operated applications, and offline payment capabilities.
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Link: European Central Bank: Digital Euro to Enhance Payment Security and Inclusivity [Copy]
