ECB taps CaixaBank for digital euro prototype project

  • The European Central Bank (ECB) launched a global call with the aim of selecting entities to develop technology projects associated with the creation of the European digital currency
  • CaixaBank has been selected to develop a mobile application for P2P digital euro payments

The ECB has selected CaixaBank and four other organizations — Worldline, EPI, Nexi, and Amazon — to collaborate in developing a prototype of a digital euro.

CaixaBank is the only European bank selected for the project and will be responsible for producing a prototype for peer-to-peer (P2P) online payments using the digital euro. Starting September and until the end of this year, the Spain-headquartered bank will be developing a mobile application that simulates the steps individuals will need to transfer digital euros to their account and/or transfer digital euros to other individuals.

Also up for development are other user interfaces of the digital euro, such as offline P2P payments, POS payments (including specific processes based on whether they are initiated by the business or the customer) and e-commerce payments.

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