ECB: "Digital euro will complement, not replace, cash... Cash will remain forever"

YM Lee

Summary

The European Central Bank (ECB) announced that the digital euro will function as a complement to, rather than a replacement for, cash.
Executive Board member Piero Cipollone emphasized that the parallel use of cash and the digital euro will strengthen Europe's payment autonomy.
It was reported that, in the future, Eurozone consumers will use banknotes, coins, and the digital euro as legal tender.

The European Central Bank (ECB) has stated that the digital euro will serve as a complement to, rather than a replacement for, cash.

According to Cointelegraph on the 4th (local time), Piero Cipollone, a member of the ECB Executive Board, emphasized, "The digital euro is not meant to replace physical cash like banknotes and coins, but to supplement it. If cash becomes available in both physical and electronic forms, Europe's payment autonomy will be strengthened."

He added, "In the future, Eurozone consumers will use banknotes, coins, and the digital euro together, all of which will be recognized as legal tender and can be used anytime, anywhere, in a variety of payment methods and situations."

YM Lee

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ECB: "Digital euro will complement, not replace, cash... Cash will remain forever"

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