ECB Picks Open European Standards for Digital Euro, Sidelining Visa and Mastercard
BeInCrypto
The European Central Bank has selected open standards for the digital euro to reduce reliance on proprietary systems like Visa and Mastercard.Summary
The European Central Bank (ECB) has entered agreements with three European standard-setting bodies—ECPC, nexo standards, and the Berlin Group—to establish an open technical foundation for the digital euro. By utilizing CPACE, nexo, and Berlin Group protocols, the ECB aims to provide a non-proprietary payment infrastructure that allows European providers to scale across borders without relying on global card schemes. While board member Piero Cipollone highlights the potential for increased competition and innovation, the project remains dependent on final EU legislative approval.
(Source：BeInCrypto)