Piero Cipollone discusses digital euro pilot, offline payments and European payment infrastructure

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ECB Executive Board member Piero Cipollone said the digital euro plan will conduct a pilot based on real transactions in 2027 and, if the relevant legislation is approved this year, could be launched as early as 2029. The digital euro will set a limit on wallet holdings but will not restrict payment amounts, and will support offline payments without an internet connection; banks and other authorized intermediaries will be responsible for distribution, managing customer relationships and developing services.