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digital euro will complement cash, not replace it

The ECB said digital euro would complement cash and be offered at no cost to individuals, alongside efforts to issue new euro banknotes with updated anti-counterfeiting features.

Reported · Written up by our desk · Central Banks

An ECB official said fears that the digital euro was intended to replace cash are unfounded, adding that the digital euro is meant to complement cash.

In an interview with Corriere della Sera, Piero Cipollone said the digital euro would offer the same high level of security as cash and would be provided at no cost to individuals.

Cipollone also pointed to new euro banknotes under development, saying the push for updated designs and anti-counterfeiting features supports the idea that cash would remain part of the system.

On support for the single currency, the ECB official cited Eurobarometer survey results showing public backing above 80%.

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