ECB Pushes Digital Euro as Public Good, Pledges Crisis-Proof Payments

He cited recent real-world disruptions, from sabotage of undersea cables in the Baltic region to widespread power and network outages in Spain and Portugal, as stark reminders of how fragile digital payments can be in the absence of built-in fallback solutions.

To counter these risks, he highlighted several technical safeguards that would underpin the digital euro. The first is a geographically distributed infrastructure, with transaction-processing servers located across at least three regions. This distribution ensures that if one region is compromised, payments are automatically rerouted to maintain service.

Another safeguard is an ECB-provided fallback app, which allows users to continue payments even if their bank’s app is unavailable, and to switch providers seamlessly during outages.

Finally, offline payment functionality will be built into the system, allowing digital euros to be exchanged peer-to-peer without internet connectivity. This measure is considered critical for maintaining payments during natural disasters or widespread network blackouts. Together, these features aim to ensure that even in moments of disruption, payments never fail.

Beyond resilience, Cipollone stressed that the digital euro must be accessible to all Europeans, including those who are typically excluded from digital systems. He pointed out that over 30 million Europeans are blind or partially sighted, while at least 34 million are deaf or hard of hearing, groups that often face exclusion from mainstream digital platforms. To address this, the ECB plans to co-design the digital euro with vulnerable groups, drawing on user research and focus sessions to shape inclusive technology from the earliest stages.

It will also implement adaptive user interfaces such as voice commands, large-font displays, and simplified workflows, making the currency usable for people with disabilities or low digital literacy. The ECB intends to guarantee that a unified ECB app will meet or exceed EU accessibility standards, while local assistance points in libraries, post offices, or municipal centres will support citizens who may lack smartphones or digital confidence.

Cipollone framed resilience and inclusion as values already inherent in cash that must be preserved in the digital transition. Legal tender, he argued, must remain safe, accessible, and universally usable in both physical and digital form. He therefore called for legislation to embed these principles, particularly mandating support for the ECB’s fallback app and offline payments to ensure universal reliability. Echoing political momentum, he pointed to a statement by euro-area leaders in March urging accelerated work on the digital euro to strengthen Europe’s payment system and economic security. He signalled the ECB’s readiness to move quickly once legislative clarity is provided.

Cipollone’s remarks mark a shift in how the ECB is presenting the digital euro, not simply as an innovative product, but as a public mandate that reinforces stability and inclusivity. By prioritising fault tolerance and universal access, the ECB positions itself at the intersection of infrastructure, technology, and social equity. For legislators, the questions now are whether legal provisions will adequately enshrine resilience and inclusion, and whether the digital euro can complement cash without eroding it. The ultimate test will be whether the project delivers a currency that remains, in Cipollone’s framing, for the public and by the public.