NEXI partners with ECB to design digital Euro

Monday 27 September 2021 11:41 CET | News

Italy-based digital payments network NEXI has announced working with the European Central Bank (ECB) to contribute to developing the region’s central bank digital currency (CBDC). 

NEXI provides merchant payments solutions, credit cards and digital payments, and digital banking services. The company’s partners in the banking sector cover 80% of Italy’s banking system. The ECB defines the digital Euro as an electronic form of money issued by the Eurosystem, constituting the ECB and the national central banks of the region’s 19 member states.

Some of its member states have made plans to develop their own CBDCs, including France, Austria, the Netherlands, and Spain. According to the ECB, the digital Euro would not replace cash but provide all citizens in its member states with an alternative, safe and regulated way of using the Euro.

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Keywords: partnership, CBDC, payment processing, digital payments
Categories: Payments & Commerce | Mobile Payments
Countries: Europe
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