Amazon will be among the companies that will support the development of a digital euro prototype for the European Central Bank (ECB).
The ECB has announced that five new companies have been selected to support the development of the digital euro prototype.
Amazon Will Work For The Digital Euro
Amazon will be among the companies mentioned by the ECB. Each of the companies will take on a different role in developing the prototype.
Spain-based bank CaixaBank will develop p2p (peer-to-peer) payments for the mobile app, while France-based global payment service Worldline will be responsible for the offline version. Italian paytech company Nexi is also among the companies working on the prototype.
The ECB launched a call for companies at the end of April and 54 participants submitted applications. The five companies identified by the ECB were selected among companies that met the necessary basic criteria.
Prototype work will begin this month and will be finished in December.
This process is part of the ECB’s two-year investigation phase. The ECB plans to complete this phase by March 2023.
The ECB has not made a definitive statement that it will issue a digital currency, although initial research into the digital euro began in July 2021.
