ECB executive board member Piero Cipollone warned that without a pan-European digital payment solution, fragmentation risks could increase across tokenization platforms, weakening Europe’s resilience and monetary sovereignty. He specified that the goal is not to replace banks but to provide them with the infrastructure needed to compete in the digital age. The ECB has not yet decided whether to issue a digital euro, but the legislative process is expected to conclude by the end of 2026, followed by a 12-month pilot program starting in the second half of 2027 and a potential issuance in 2029.
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