In the near future, the European Central Bank intends to Euro digital project to unveil Five major companies play an important role in the pilot launch of Euro Digital.
European Central Bank (ECB) direction Euro Digital trial launch It cooperates with companies such as Amazon, CaixaBank, Nexi, etc. The central bank has selected a small number of companies from among 54 candidates to help develop its CBDC prototype, Euro Digital.
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Euro Digital trial launch
The European Central Bank on September 16 named five companies selected to help develop the user interface Digital Euro announced Among these companies are the e-commerce giant, Amazonthe Italian bank Nexi and the Spanish bank CaixaBank pointed out.
According to the European Central Bank, these companies in separate sections of the project Development of CBDC will work The central bank intends to evaluate the effectiveness of the interaction and integration of the digital euro in various applications.
Each of the companies selected by the ECB will focus on a specific use case for the digital euro. Amazon is responsible for testing the systems E-commerce payment Is. CaixaBank and Worldline are responsible for prototyping P2P payments are in charge of EPI and Nexi are also on Retail payments will work
Despite the work of private companies on the use cases and integration of the digital euro, the European Central Bank is solely responsible for the development of the CBDC code and infrastructure. Prototypes created by the mentioned companies will be used only for the Euro Digital test launch. But according to the European Central Bank, the data obtained will not be used in the next stages of the project.
The ECB announced that Euro Digital trial launch It will be completed in the next few months. According to expectations, the digital version of the euro will be released by the first quarter of 2023.
Roberto Catanzaro, Chief Strategy and Transformation Officer of Nexi Group and member of the Euro Digital Market Advisory Group, announced in a statement that Nexi Group will contribute to the development of Euro Digital.
According to local Spanish media outlet El Economista, the European Central Bank is concerned that the launch of the digital euro could lead to the leakage of commercial bank deposits, which is why the ECB is working with several leading payment service providers.
Companies selected by the European Central Bank Risks and opportunities related to the start-up CBDC are analyzed. The European Central Bank’s concerns are largely linked to the deep economic collapse of Spain’s Banco Popular in 2017.
After the collapse of Spain’s Banco Popular, several companies and public institutions withdrew their funds in less than two months. This issue caused the loss of capital of about 300 thousand minor capitalists. ECB officials recently announced during an event organized by the European Economic and Social Committee that the digital euro aims to Retail business will be marketed.
It should be noted that the use of Euro Digital is only for a certain number of people and companies do not have the right to use this asset to settle bills or invoices.
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