2026-11-05 · 1 statements · 1 actors
Piero Cipollone speech 'Shaping the future of money', 5 Nov 2026
ECB Executive Board member Piero Cipollone gave a speech on the Eurosystem's payments, banknote, digital euro and tokenisation work.
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The statements
European Central Bank
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Piero Cipollone: Shaping the future of money
2026-11-05 · central bank · one of several topics in this statement
Cipollone says central banks must keep money fit for the future, describing the Eurosystem's comprehensive payments strategy with four objectives: settlement in central bank money, resilience and strategic autonomy, an integrated payments ecosystem, and support for the euro's international role.
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Piero Cipollone: Shaping the future of money
2026-11-05 · central bank · one of several topics in this statement
Cipollone argues cash remains a resilient payment form and says more than 31 billion euro banknotes worth over €1.6 trillion are in circulation. He says the next banknote generation will have enhanced security and a smaller environmental impact, with new designs expected to enter circulation gradually from the early 2030s.
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Piero Cipollone: Shaping the future of money
2026-11-05 · central bank · one of several topics in this statement
Cipollone describes the digital euro as a digital form of public money usable online and offline, without remuneration and with holding limits. He says the legislative process is advancing, a pilot is planned for the second half of 2027, and the Eurosystem aims to be ready for a potential first issuance in 2029.
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Piero Cipollone: Shaping the future of money
2026-11-05 · central bank · one of several topics in this statement
Cipollone says market participants want a safe settlement asset for tokenised finance and presents Pontes, launched on 21 September, as a bridge for settling DLT-based transactions in central bank money. He describes Appia as a project designing a European tokenised financial ecosystem with a blueprint planned for 2028.
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Piero Cipollone: Shaping the future of money
2026-11-05 · central bank · one of several topics in this statement
Cipollone says the Eurosystem is connecting fast payment systems to lower costs and speed up cross-border payments. He reports that a TIPS-based platform is operating in Bosnia and Herzegovina and Montenegro, with Albania, Kosovo and North Macedonia expected to join, and that work is advancing on links with India, Nexus, Switzerland, Brazil and, as indicated by EU and Canada leaders, Canada.