The European Central Bank (ECB) has launched a new innovation platform aimed at testing and shaping the future of the digital euro.
Nearly 70 participants—including banks, FinTechs, start-ups, and merchants—have joined the initiative following a call for interest issued in late 2024.
Participants are split into two workstreams: “pioneers,” who are focused on testing technical features such as conditional payments and platform integration, and “visionaries,” who are developing ideas to improve digital financial inclusion, like offering digital euro wallets at post offices for those without bank accounts or devices.
The ECB is providing technical resources including APIs to support independent experimentation. Workshops for the visionaries group will continue through May 2025, with findings from both workstreams to be compiled into a report later this year.
ECB executive board member Piero Cipollone said, “We welcome the huge amount of interest that market participants have shown in this exciting initiative. The breadth and creativity of the proposals highlights the digital euro’s potential as a catalyst for financial innovation in Europe, including the development of new solutions that further enhance the payment experience for Europeans and create market opportunities.”
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