ECB launches innovation platform for digital euro development
The European Central Bank (ECB) has launched an innovation platform to collaborate with approximately 70 market participants—including merchants, fintech companies, start-ups, banks, and other payment service providers—to explore digital euro payment functionalities and innovative use cases. This initiative, following a call for interest in October 2024 that received over 100 applications, is designed to replicate the envisioned digital euro ecosystem by providing the technical support and infrastructure necessary for European intermediaries to develop forward-looking digital payment features. The platform is divided into two workstreams: pioneers and visionaries. The findings from both workstreams will be consolidated in a report intended to inform the ECB’s ongoing work on the digital euro project, with publication expected later in 2025.