The European Central Bank selected Amazon and 4 other companies for a prototype of the digital euro application

The European Central Bank, or ECB, has announced that it will collaborate with five companies to develop potential digital user interfaces in Euro.

In Friday’s announcement, the European Central Bank He said Tech company Big Four chose Amazon, fintech company Nexi, Spanish digital bank CaixaBank, French payments platform Worldline and European payments initiative EPI, all to focus on developing a prototype based on specific use cases of the digital euro. According to the central bank, the companies will create front-end prototypes, which will not be used in the later stages of the digital currency project.

Source: European Central Bank

The European Central Bank selected the five companies based on their “specific capabilities” that they achieve compared to 50 other front-end developers that responded to the central bank’s call in April. Officials planned for the project to be completed in the first quarter of 2023 as part of a two-year investigation phase in digital eurois expected to expire in October 2023.

Related: A digital euro could come as soon as 2026 – European Central Bank official

As interest in central bank digital currencies is growing globally, European Central Bank officials have been exploring the potential impact of a digital euro on Europe while getting ambiguous about whether or when the bank can issue a central bank digital currency. central bank Commissioned a series of focus groups Regarding digital payment methods in September 2021, indicating that the use of digital currency in online and physical stores could be an essential feature of the digital euro. Previous general consultation also Suggest that privacy It was considered “the most important advantage of the digital euro by both citizens and professionals”.