ECB Launches Innovation Hub with 70 Participants for Digital Euro Testing
The European Central Bank (ECB) has established an innovation hub with 70 participants to test its digital euro project. Key participants include:
- Accenture
- Swisscom
- CaixaBank
- KPMG
These companies will collaborate with the ECB to explore the payment functionalities and use cases of the central bank digital currency (CBDC). The ECB's President, Christine Lagarde, indicated that the testing phase should conclude by October, after which a decision on issuing the digital euro will be made following legislative actions.