ECB, Eurosystem begins experimental prototyping of digital euro customer inte...
Up to five banks or other payment services providers will be selected to participate without compensation in the development of the digital euro front end. Progress will continue on the development of the digital euro as the European Central Bank (ECB) and Eurosystem have begun looking for companies to participate in an exercise to prototype customer-facing payments services. Payment service providers, banks and other relevant companies were invited to express interest in the project in an announcement released Thursday.Eurosystem, which comprises the ECB and the national central banks of....
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Eurozone’s monetary authority, the Eurosystem, is looking to enlist financial companies willing to develop front-end solutions for the digital euro. The plan is to carry out a “prototyping exercise” this year to test transactions to the back-end developed by the regulator. Eurosystem to Select Front-End Providers for Digital Euro Project Within the ongoing investigation into the possible issuance of a digital euro currency, the Eurosystem intends to conduct an experiment which will, among other objectives, test end-to-end transactions with the central bank digital....
The French presidency of the European Union winds down with the completion of wCBDC experiments, the design of a proprietary blockchain and an automated market maker platform. The first phase of experiments with a wholesale digital euro has been completed, and Phase 2 experiments will begin this year, Banque de France governor François Villeroy de Galhau said Tuesday. Four or five new experiments are expected to be launched. Speaking at the Paris Europlace International Finance Forum, the French central banker summed up the European Union’s achievements in crypto-asset regulation under the....
The report is only the start of the discussion and raises more questions before officially studying the digital euro. The European Central Bank (ECB) could begin seriously considering and studying the digital euro by mid-2021, the bank said in a report released Oct. 2. The report examined how a digital euro may impact retail payments and how it can protect payments in the future. It also looks at how virtual currencies could fit within the landscape of the entire Eurosystem. However, it does not specify what model the ECB should take when and if it designs its digital currency. Based on....
The monetary authority of the euro area, the Eurosystem, has introduced a new framework for overseeing electronic payments, including services related to crypto assets. The new set of rules will complement upcoming EU regulations for cryptocurrencies and stablecoins. ECB Aims for Secure and Efficient Digital Payments Through Improved Oversight Following public consultations on the matter, the Governing Council of the European Central Bank (ECB) has approved a new oversight framework for electronic payments. The document has been published by the Eurosystem, which consists of the ECB and....
After months of deliberation, the European Central Bank has decided to proceed with a digital euro project. Officials insist the new version of Europe’s common currency should “ensure privacy” and provide access to “the safest form of money” at a “negligible” cost to the environment, in comparison with bitcoin. Eurosystem Initiates Digital Euro Project The Governing Council of the European Central Bank (ECB) took a long-awaited decision on Wednesday to launch the ‘investigation phase’ of a project to issue a central bank digital....