As the world of stablecoins and private digital currencies starts to look more like a bustling circus tent, the European Central Bank (ECB) has decided to stick to its knitting, insisting that both physical and digital public money shall remain the heart and soul of Europe’s financial tapestry.
On Monday, ECB Executive Board member Piero Cipollone took to the blogosphere to reassure the masses that, despite the allure of a shiny new digital euro, the trusty old banknotes and coins aren’t about to be pensioned off just yet.
“Fear not, my dear readers,” Cipollone declared, with a flourish one might expect from a man addressing a room full of accountants at a cocktail party. “A digital euro will not usurp the throne of banknotes and coins but will merely sit beside them, like a well-mannered guest at a dinner party.” He went on to explain that the availability of cash in both physical and electronic forms would bolster Europe’s payment independence, ensuring that the continent doesn’t find itself at the mercy of foreign digital currencies.
The ECB’s pronouncements come at a time when the world of crypto payments is growing faster than a weed in a garden, and stablecoins are increasingly being used for everything from buying groceries to settling international debts. 🌍💸
The ECB’s Push for a Digital Euro
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2025-08-04 13:10