ECB picks providers for digital euro components – Crypto News – Crypto News
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ECB picks providers for digital euro components ECB picks providers for digital euro components

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ECB picks providers for digital euro components – Crypto News

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10 months ago

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The European Central Bank (ECB) has chosen technology providers to deliver core services for a potential digital euro.

In a notice published on October 2, the ECB said it had signed framework agreements with firms responsible for alias lookup, fraud and risk management, app development, offline payments, and secure exchange of payment information. Service requests will first go to the primary provider in each category, with a second vendor available if needed.

Among the selected companies are Feedzai and Capgemini Deutschland for fraud management, Almaviva and Fabrick for app and software development, and Giesecke+Devrient for offline payment solutions. EquensWorldline and Senacor FCS were chosen for secure information exchange, while Sapient GmbH and Tremend Software Consulting are included in multiple categories. 

One additional provider for offline services will be announced later, according to the note.

The ECB stressed that the agreements involve no payments at this stage and include safeguards to adapt scope in line with European Union legislation. A decision to issue a digital euro will only follow adoption of the Digital Euro Regulation, which remains under debate. Development of specific components will depend on future approval from the ECB Governing Council.

The initiative reflects the EU’s ongoing effort to create a central bank digital currency (CBDC) that could coexist with cash, improve payment efficiency, and reduce reliance on private stablecoins. Even if ultimately adopted, however, a digital euro may not be launched until the end of the decade.

This is a developing story.

This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.

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