The European Central Bank (ECB) said it has created an innovation center with 70 participants to test its Euro digital project.
Participants included start-ups, banks and payment services, including the World Professional Service Company Accenture, the Swiss telecommunications company Swisscom, the Spanish bank Caixabank and the audit and tax firm KPMG, he said in a statement on Monday. Companies have registered to work with the ECB to explore the payment features of the Central Bank digital currency and use cases, the press release said.
The ECB launched a call for small and large merchants, banks and payment service providers last year. The president of the central bank, Christine Lagarde, said that the CBDC test phase, which she calls for her preparation phase, should end by October. A decision on the advisability of or not to issue a digital euro should occur after the legislation comes into force.
Read more: the ECB targets in October to complete the preparing for the digital euro
