MILAN, Jan 29 (Reuters) – The euro zone needs to be self-sufficient in handling payments and the digital euro will provide the necessary infrastructure for retail transactions, European Central Bank Executive Board Member Piero Cipollone said on Thursday.
Speaking remotely at a conference in Italy, Cipollone said the digital euro scheme, together with another two projects the ECB is working on for wholesale payments, will give the euro zone the tools it needs “to keep its house in order.”
“That can give it more strength,” he said when asked if the digital euro could boost Europe’s position vis-a-vis the United States.
(Reporting by Valentina Za, editing by Gavin Jones)