Digital Euro Promises Maximum Privacy, ECB Executive Says

ECB Executive Board Member Piero Cipollone has assured that the digital euro will offer users the maximum level of privacy current technology can provide. In an interview published on Monday, he explained that offline payments would be visible only to the payer and payee, while online transactions would not be identifiable by the Eurosystem.

However, commercial banks distributing the currency would still have access to payment details, which could be used for anti-money laundering purposes. Cipollone emphasized that the digital euro's design incorporates built-in privacy features but does not exempt it from existing regulations applying to all money.

The European Parliament agreed its negotiating position on the regulation in July, and talks with member states are targeting a deal by the end of 2026. The ECB has named 36 payment providers for a 12-month pilot from the second half of 2027, with first issuance targeted for 2029.