ECB's Cipollone says digital euro will protect European banks, card schemes

European Central Bank executive board member Piero Cipollone speaks to journalists in Rome, Italy, February 18, 2026. REUTERS/Matteo Minnella

MILAN, Feb 18 (Reuters) - The digital ⁠euro will be designed to protect European card schemes and keep banks at the core of the region's ⁠payments system, a senior European Central Bank policymaker said on Wednesday.

As a currency managed directly by the ‌ECB through accounts with the central bank, the digital euro project has raised concerns among banks they could lose their role in handling payments.