ECB Selects Tech Partners For Digital Euro, Targets 2029 Launch

The European Central Bank has taken a decisive step toward launching a digital euro by partnering with seven technology firms, including Feedzai and Giesecke+Devrient. The initiative focuses on building Core infrastructure, with a potential launch as early as 2029 pending legislative approval.

Giesecke+Devrient will lead development of the Digital Euro Service Platform, incorporating secure messaging and offline transaction capabilities. The project's framework carries an estimated value of €79.1 million, with provisions to scale up to €237.3 million.

This development coincides with the ECB's hardening stance on stablecoins, signaling a broader policy shift in Europe's approach to digital assets. The central bank emphasizes fraud prevention mechanisms as a cornerstone of the digital euro's architecture.