Speaking at an online seminar, Panetta stated that going digital could help central banks so they would preserve money as a public good.
"A digital euro would aim to support digitalization while continuing to give people choice in how they pay and ensuring their payments remain competitive and secure. It would be designed to be safe, costless, easily accessible, and simple to use, thereby supporting financial inclusion," he said.
The central banker added that risks exist regarding a digital euro and noted it could affect monetary and financial stability.