Chipolone: Digital Euro will enhance the competitiveness of European banks, planned to be launched in 2029

European Central Bank Executive Director Chipolone stated that the digital euro will help European banks improve their competitiveness and provide an innovative platform. The European Central Bank plans to officially launch the digital euro in 2029 and initiate a pilot phase next year. The project aims to maintain Europe's monetary sovereignty in response to Europe's dependence on American payment companies such as Visa and Mastercard, as well as the development of stablecoins pegged to the US dollar.