ECB to collaborate with 5 fintech companies for digital euro prototype


The European Central Bank (ECB) announced that it will cooperate with five companies in the development of digital euro interfaces.

The ECB announced on Friday that it has selected tech company Amazon, fintech firm Nexi, Spanish digital bank CaixaBank, French payments platform Worldline and the European Payments Initiative (EPI), each to work on prototype development. told. According to the central bank, firms will create prototype examples of the digital currency project.

ECB to collaborate with 5 fintech companies for digital euro prototype
Source: ECB

Among the 50 companies that responded to the central bank’s call in April, the ECB selected five large companies that meet certain talents. For the digital euro, which is expected to expire in October 2023, the authorities aim to complete a significant part of the project in the first quarter of 2023.

You may be interested: Digital euro could be launched in three years

As interest in central bank digital currencies (CBDC) appears to be growing worldwide, ECB officials continue to explore the potential impact of the digital euro on Europe. It remains unclear whether or when the European central bank will issue a CBDC. On the other hand, the central bank commissioned a series of groups on digital payment methods in September 2021, which suggested that using the digital currency online and in physical stores could be an important feature of the digital euro. An earlier public consultation suggested that the element of privacy is seen as “the most important feature of the digital euro by citizens and professionals alike”.

Soruce : https://tr.cointelegraph.com/news/european-central-bank-chooses-amazon-and-4-other-firms-to-prototype-digital-euro-app

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