Poste Italiane Could Deliver Digital Euro to Millions, Says ECB Official
Poste Italiane Set to Disburse Digital Euro to Millions
The European Central Bank (ECB) can hire Poste Italiane, Italy’s national postal and financial services provider, to play the starring role in disbursing the digital euro to the masses. ECB executive board member Piero Cipollone suggested that in a recent online event hosted by the Italian Alliance for Sustainable Development (ASviS), as reported by Bloomberg.
By Cipollone, Poste Italiane could be a valuable partner in the final distribution phase of the central bank digital currency (CBDC) program. He quoted the company’s extensive coverage, large client base, and background in financial services business as major strengths.
A Strategic “Last Mile” Partner
The ECB’s digital euro initiative is entering the phase of preparation, with much focus on centralized to decentralized protocols to deliver the currency to citizens in the Eurozone. The ECB can architect the infrastructure, as Cipollone stated, but needs to have trusted partners in terms of delivering what he referred to as “the last mile” — direct interface with the masses.
“Poste Italiane has tens of millions of customers and can easily make access to support the digital euro available,” Cipollone stated. With the firm present in even remote Italian villages, it might be used as a bridge between the new digital money system and average users.
Poste Italiane, although historically renowned for its postal, is already a bank with PostePay and BancoPosta, offering banking, payment, and investment products. Its recent history digitalization has made it a likely contender to be a leader in engagement with next-generation financial instruments like the digital euro.
Digital Euro to Supplement, Not Supplant, Cash
Cipollone confirmed that the digital euro will not replace physical money but coexist with it. “Cash can’t do it on its own in the digital age,” he said. The idea is to create a public, secure digital payment system, based on the central bank — a complement to privately issued payment instruments like cards, apps, and stablecoins.
The ECB sees the digital euro as a tool to protect monetary sovereignty, enhance financial inclusion, and make public money freely accessible in a changing financial landscape.
Timeline and Next Steps
If development proceeds without political or technical hiccups, Cipollone noted that initial transactions in the digital euro could begin by mid-2028. The ECB continues to consult and test prototypes while envisioning the system.
Poste Italiane’s possible involvement would go a long way in facilitating adoption in Italy, offering an existing infrastructure and a recognized presence for millions that may be hesitant at having a new type of currency.
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Poste Italiane Could Deliver Digital Euro to Millions, Says ECB Official
Poste Italiane Set to Disburse Digital Euro to Millions
The European Central Bank (ECB) can hire Poste Italiane, Italy’s national postal and financial services provider, to play the starring role in disbursing the digital euro to the masses. ECB executive board member Piero Cipollone suggested that in a recent online event hosted by the Italian Alliance for Sustainable Development (ASviS), as reported by Bloomberg.
By Cipollone, Poste Italiane could be a valuable partner in the final distribution phase of the central bank digital currency (CBDC) program. He quoted the company’s extensive coverage, large client base, and background in financial services business as major strengths.
A Strategic “Last Mile” Partner
The ECB’s digital euro initiative is entering the phase of preparation, with much focus on centralized to decentralized protocols to deliver the currency to citizens in the Eurozone. The ECB can architect the infrastructure, as Cipollone stated, but needs to have trusted partners in terms of delivering what he referred to as “the last mile” — direct interface with the masses.
“Poste Italiane has tens of millions of customers and can easily make access to support the digital euro available,” Cipollone stated. With the firm present in even remote Italian villages, it might be used as a bridge between the new digital money system and average users.
Poste Italiane, although historically renowned for its postal, is already a bank with PostePay and BancoPosta, offering banking, payment, and investment products. Its recent history digitalization has made it a likely contender to be a leader in engagement with next-generation financial instruments like the digital euro.
Digital Euro to Supplement, Not Supplant, Cash
Cipollone confirmed that the digital euro will not replace physical money but coexist with it. “Cash can’t do it on its own in the digital age,” he said. The idea is to create a public, secure digital payment system, based on the central bank — a complement to privately issued payment instruments like cards, apps, and stablecoins.
The ECB sees the digital euro as a tool to protect monetary sovereignty, enhance financial inclusion, and make public money freely accessible in a changing financial landscape.
Timeline and Next Steps
If development proceeds without political or technical hiccups, Cipollone noted that initial transactions in the digital euro could begin by mid-2028. The ECB continues to consult and test prototypes while envisioning the system.
Poste Italiane’s possible involvement would go a long way in facilitating adoption in Italy, offering an existing infrastructure and a recognized presence for millions that may be hesitant at having a new type of currency.
Read More
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