ECB Outlines Vision for the Digital Euro

The European Central Bank recently shared a speech by Piero Cipollone,a Member of the Executive Board of the ECB,to a roundtable at Aspen Institute Italia.

Published on Friday, december 19, the speech focuses on the future of money and the bank’s vision for the digital euro.

The Role Of Central Banks In The financial Industry

Cipollone began by stating that money is central to the work of central banks. Thier core role has always been to issue money and protect its value,and that won’t change. However, the technology central banks use to deliver money is changing – and rapidly.

Digitalization is now the standard, and new technologies are disrupting financial services. Financial institutions are evolving into tech companies, while tech firms are aggressively entering the payments and finance sectors.