ECB announces 5 partners to help develop national digital currencies

The European Central Bank (ECB) has announced five partners that will help them develop a national digital euro.

Last night, the European Central Bank (ECB) announced five partners, selected from 54 potential candidates, that will help them develop CBDCs, or Central Bank-issued digital currencies. 


  • The giant Amazon is responsible for the design of e-commerce payments.
  • Bank of Spain – CaixaBank develops online peer-to-peer payments for mobile applications. 
  • French multinational payment service – Worldline has launched an offline version.
  • Point-of-sale payments belong to the European Payment Initiative and the Italian paytech company – Nexi.

The ECB has been talking to partners by phone since the end of April and has received 54 invitations to cooperate from multinational banks and technology companies. They will start implementing the task from here until the end of December, serving the ECB's two-year plan, which is expected to be completed by March 2023. 

While still skeptical of cryptocurrencies and openly opposed to Proof-of-Work, DeFi, and stablecoins, the ECB is still actively working on a digital euro that is supposed to be more energy-efficient than Bitcoin

In the latest guidance on the cryptocurrency regulatory framework, US officials claim to be getting closer to testing CBDC, although Fed Vice Chairman Lael Brainard previously stated that it could take up to 5 years. end of the year.

Based on a report from the International Monetary Fund (IMF) in March, around 100 countries are currently exploring CBDCs at various levels. Perhaps the US will fall into a state of "at-risk" if it does not act quickly.

Fox Crypto News summary

Sep 17, 2022

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