Piero Cipollone, a member of the Executive Board of the European Central Bank (ECB), indicated in an interview published on October 8, 2026, that the digital euro could be launched in 2029.
He emphasized that this new payment method will not replace cash, which will continue to exist with a new series of banknotes equipped with anti-counterfeiting features. The digital euro will serve as a complement, offering an equivalent level of security and will be free for users, just like cash today.
Cipollone highlights that the project relies on strong public trust in the single currency, with over 80% support according to the latest Eurobarometer surveys. He also notes that digital evolution makes a digital version of the currency necessary, accessible via a smartphone application provided by the ECB, a bank, or a payment service provider.
Unlike card payments or private services such as Satispay or PayPal, the digital euro will offer merchants a public alternative, potentially halving acceptance costs. In Italy, where 570,000 merchants employ nearly two million people, this could ease the often tight margins of small businesses.
The project is under development with the participation of Italian private partners such as Satispay and Bancomat, aiming to integrate the digital euro into European payment solutions and facilitate its use throughout the eurozone.