Progress will continue on the development of the digital euro as the European Central Bank (ECB) and Eurosystem have begun looking for companies to participate in an exercise to prototype customer-facing payments services. Payment service providers, banks and other relevant companies were invited to express interest in the project in an announcement released Thursday.
Eurosystem, which comprises the ECB and the national central banks of countries that use the euro, stated that it will select up to five front-end providers on the basis of their capabilities and the use cases they present. While participants are not required to have previous experience with the service they will prototype, experience will be considered in the selection process.
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