European Central Bank picks tech partners for digital euro

The ECB said it had reached agreements with seven entities not yet involving “any payment” responsible for components of the digital euro, potentially launching in 2029.

The European Central Bank (ECB), as part of its preparation phase for a potential digital euro launch, announced framework agreements with technology providers responsible for components of the central bank digital currency (CBDC).

In a Thursday notice, the ECB said it had reached agreements with seven entities — and at least one more expected to be announced — to provide services related to managing fraud and risk, a secure exchange of payment information, and software development for a possible digital euro. Among the companies were Feedzai, which uses AI to detect fraud and the security technology company Giesecke+Devrient.

“Following the framework agreement conclusion, G+D and other successful tenderers will work with the ECB to finalize planning and timelines,” said Dr. Ralf Wintergerst, CEO of Giesecke+Devrient. “Under the guidance of the ECB Governing Council and in line with EU legislation, this work will cover the design, integration, and development of the Digital Euro Service Platform.”

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