Cash Isn’t Going Anywhere, ECB Says — But It’s Getting A Digital Twin

Europe’s top central bank is firm on one thing: banknotes aren’t going anywhere. On Monday, ECB Executive Board member Piero Cipollone vowed that euro coins and bills will remain at the heart of payments, even as Brussels moves ahead with plans for a state-backed digital euro.

He warned that without a public digital option, privately issued stablecoins could gain too much ground—especially in cross-border transfers.

ECB’s Cash And Digital Push

According to a blog post by Cipollone, the digital euro will sit alongside physical money, not replace it. He wrote that cash and digital euros, both with full legal tender status, will give consumers more choice.

Reports have disclosed that on April 8, Cipollone said a digital euro would curb the rise of foreign-pegged stablecoins

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