The digital euro could be financially viable for payment service providers, according to a senior European Central Bank official, as the ECB nears a decision on whether to move forward with the project.
Speaking to members of the European Parliament on Wednesday, ECB executive board member Piero Cipollone said that the central bank does not expect the digital euro initiative to be loss-making. He also downplayed concerns over implementation costs, citing a European Commission estimate of €2.8–5.4 billion for the full rollout — significantly lower than projections circulating in some quarters.
“We do not have the impression that this project will be loss-making,” Cipollone told MEPs. “The taking up of the digital euro will not be so huge that it puts in danger financial stability, and at the same time it will be sufficient to remunerate the distributors and to fund the infrastructure.”
The ECB has framed the digital euro as a complementary tool to physical cash, with a focus on universal access and system resilience. Cipollone described it as a “public good” that would guarantee individuals the right to transact even in cases of cyberattack or large-scale blackout. Access would be free of charge for basic services.
Strategically, the initiative also addresses the EU’s reliance on foreign payment networks. ECB officials have repeatedly raised concerns over Europe’s exposure to “economic coercion” due to its dependence on US-based systems such as Mastercard, Visa, and Apple Pay. In March, ECB chief economist Philip Lane noted that 60% of Europe’s card payment volume ran through providers headquartered outside the bloc.
The ECB’s Governing Council is currently in the final stage of the digital euro’s preparation phase. A formal decision on whether to issue the currency is expected in October 2025, pending further political and legislative alignment across EU institutions.
