PANews reported on January 28 that, according to Cointelegraph, European Central Bank Executive Board member Piero Cipollone stated that escalating geopolitical tensions further highlight the need to establish a European-led digital payment system.

In an interview released by the European Central Bank on Wednesday, Piero Cipollone described the proposed digital euro as a "digital form of public money," noting that it is crucial to supplement cash and address Europe's increasingly fragmented payment landscape, especially against the backdrop of booming e-commerce. Cipollone pointed out that by 2024, cash transactions will account for about a quarter (24%) of daily transactions, a significant decrease from 40% in 2019. He stated that the ECB has a responsibility to adjust the way it provides money as a public good.

Piero Cipollone directly links this task to geopolitics, warning that the "weaponization of all possible tools" and the increasingly tense global situation underscore the necessity of establishing a European retail payment system that is "completely under our control," based on European technology and infrastructure, rather than non-European suppliers.