ECB has started looking for partners to ensure the operation of the digital euro

The regulator is willing to give contractors up to $1,3 billion

11.01.2024 - 10:43

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2 min

What’s new? The European Central Bank (ECB) has started looking for service providers related to the operation of the digital euro. The regulator needs partners in the areas of risk management, information security, and custom application development. The ECB is ready to allocate up to 1,2 billion EUR ($1,3 billion) to potential contractors, of which 56% will be used to create an autonomous payments service.

The ECB’s tenders

What else is known? It is not yet known who the ECB will choose as partners for the project. In 2022, EU lawmakers criticized the bank for choosing US tech giant Amazon to build a prototype asset. According to industry experts, this time the regulator will select more traditional financial players present in Europe.

The digital euro bill was introduced last June, which includes bans on interest payments, holding large sums, and programmability. At the same time, the asset must maintain offline functioning from the first day of issuance.

ECB chief Christine Lagarde later said that the digital euro, unlike banknotes, “will not be completely anonymous” because “digital money leaves a trace on the blockchain.”

ECB president confesses to using CBDC to spy on users

Christine Lagarde said this in a conversation with the pranksters of the channel Show VL

In November, the Bank for International Settlements (BIS) presented its own anonymous CBDC project.

At the end of the year, OMFIF analysts said following the results of a survey that central banks around the world are considering creating national cryptocurrencies as a way to protect themselves from dollar dominance.

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