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ECB’s Cipollone: Cash to Remain a Core Payment Option Alongside Digital Euro
Cash will remain a core component of the euro area's payment system and coexist with the digital euro, European Central Bank Executive Board member Piero Cipollone said Monday. In a blog post on the website of the ECB, Cipollone stressed that 'cash is here to stay, even as digital payments gain ground. While the pandemic and technological change have accelerated digitalisation, demand for euro banknotes remains strong, he said. 'Europeans want to retain the option to pay with cash, so they expect it to remain available in the future', he said. Currently, 30.4 billion banknotes worth €1.6 trillion were in ... (full story)