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Europe Prepares For Digital Euro With New Tech Deals
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Europe Prepares for Digital Euro With New Tech Deals

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The European Central Bank has signed agreements with several technology providers today as part of preparations for a potential digital euro. 

The agreements cover parts of the central bank digital currency, including fraud prevention, risk management, secure exchange of payment information, and software development.

Big Tech Joins the Digital Euro Team

According to the Thursday notice, Seven companies have already been named, with at least one more expected to be added. Among the selected firms are Feedzai, a company that uses artificial intelligence to detect fraud, and security technology group Giesecke+Devrient, known for its work in payment systems and banknote production.

“Following the framework agreement conclusion, G+D and other successful tenderers will work with the ECB to finalize planning and timelines,” said Dr. Ralf Wintergerst, chief executive officer of Giesecke+Devrient. 

He added that under the guidance of the ECB Governing Council, the work will cover design, and development of the Digital Euro Service Platform.

The agreements do not involve any financial payments at this stage, the ECB clarified, and contain safeguards that allow changes if European legislation requires adjustments. According to the bank, the actual development of components will be decided later, depending on the Governing Council’s approval of the next project phase.

Services under the new deals will include “alias lookup,” a function that allows digital euro users to send or receive money without having to know the full details of the other person’s payment service provider. Giesecke+Devrient will also work on offline payment solutions, enabling users to make or receive digital euro transactions without an internet connection.

What’s Next for the Digital Euro?

The digital euro project was first launched in 2021 and entered its preparation phase in 2023. While no decision has been made to officially launch the currency, an ECB official recently suggested that 2029 could be a possible date for a rollout.

The project comes at a time when European regulators are raising concerns over the impact of stablecoins. ECB President Christine Lagarde said in September that EU lawmakers need to address risks posed by stablecoins issued by firms under the region’s Markets in Crypto-Assets framework, as well as those coming from outside the European Union.

Separately, the European Systemic Risk Board passed a recommendation urging a ban on certain jointly issued stablecoins, although the measure is non-binding. Officials argue these tokens could create risks for financial stability if left unchecked.

Also Read: FG Nexus to Tokenize Stock on Ethereum with Securitize



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European Central Bank Picks Providers For Possible Digital Euro Rollout
Crypto Trends

European Central Bank Picks Providers For Possible Digital Euro Rollout

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The European Central Bank (ECB), as part of its preparation phase for a potential digital euro launch, announced framework agreements with technology providers responsible for components of the central bank digital currency (CBDC).

In a Thursday notice, the ECB said it had reached agreements with seven entities — and at least one more expected to be announced — to provide services related to managing fraud and risk, a secure exchange of payment information, and software development for a possible digital euro. Among the companies were Feedzai, which uses AI to detect fraud and the security technology company Giesecke+Devrient.

“Following the framework agreement conclusion, G+D and other successful tenderers will work with the ECB to finalize planning and timelines,” said Dr. Ralf Wintergerst, CEO of Giesecke+Devrient. “Under the guidance of the ECB Governing Council and in line with EU legislation, this work will cover the design, integration, and development of the Digital Euro Service Platform.”

Agreements with technology companies for risk and fraud management of the potential digital euro. Source: ECB

ECB officials have been exploring a potential digital euro rollout since 2021, moving into the preparation phase in late 2023 as part of its plans. Though the Thursday notice clarified that the central bank authorities would only decide whether to launch the CBDC “once the Digital Euro Regulation has been adopted,” an ECB official said last week that a launch in 2029 was possible.

Related: A third of central banks cool on launching CBDCs over regulatory concerns

“The actual development of the components — or parts thereof — will be decided at a later stage, subject to the ECB Governing Council’s decision on the potential next phase of the project,” said the ECB. “Framework agreements do not involve any payment at this stage and include safeguards allowing for the scope to be adjusted in line with changes to the legislation.”

Other components and services that the technology companies will provide include “alias lookup,” allowing digital euro users to send or receive funds “without necessarily knowing the details of the Payment Service Provider of the other end-user.” Giesecke+Devrient is also responsible for the engineering and development of allowing users to make or receive payments with digital euros while offline.

EU authorities express concerns about stablecoin risks

Amid the potential digital euro rollout, officials with the ECB and European Union financial watchdogs have been warning about possible risks on local markets introduced by certain stablecoins. These policies stand in contrast to those of the US, where many members of Congress and President Donald Trump signed a stablecoin bill into law in July, establishing a regulatory framework for the coins.

ECB President Christine Lagarde said in September that EU lawmakers should take steps to address potential risks from stablecoins jointly issued by entities covered under the region’s Markets in Crypto-Assets framework (MiCA) and non-EU companies.

The European Systemic Risk Board, in a separate decision, reportedly passed a non-legally binding recommendation to ban similar jointly issued stablecoins.

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SocGen's Crypto Arm SG-FORGE Deploys Euro, Dollar Stablecoins on Uniswap, Morpho
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SocGen’s Crypto Arm SG-FORGE Deploys Euro, Dollar Stablecoins on Uniswap, Morpho

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Societe Generale’s digital asset subsidiary, SG-FORGE, has taken its euro and dollar stablecoins into decentralized finance (DeFi), opening them up to borrowing, lending and spot trading, according to a press release on Tuesday.

The move places the bank’s EURCV$1.1741 and USD CoinVertible (USDCV) on Ethereum-based protocols Morpho and Uniswap, extending SG-FORGE’s effort to distribute its stablecoins, digital tokens whose value is pegged to a real-world asset, through centralized exchanges and brokers.

By moving into DeFi, SG-FORGE allows clients to transact around the clock with assets tied to major currencies, while relying on smart contracts to handle the mechanics.

On Morpho, users can now lend and borrow EURCV and USDCV against cryptocurrencies such as BTC$111,480.33, ETH$4,005.03 and tokenized money market funds such as USTBL and EUTBL, which are regulated by the French Financial Markets Authority and invest in US T-Bills and Eurozone T-Bills.

Asset manager MEV Capital will oversee the vaults, setting rules for eligible collateral and stepping in to manage defaults if needed. More collateral types are expected over time, SG-FORGE said.

In addition, Uniswap listings will create a spot market for the bank-issued stablecoins. Market maker Flowdesk will provide liquidity, helping traders swap in and out of EURCV and USDCV without relying on traditional intermediaries.

The two are relatively small compared with market leaders. EURCV has a market cap of $66 million, according to CoinMarketCap data, compared with Circle Internet’s EURC at $260 million. USDCV has a market cap of $32.2 million, while Tether’s USDT leads with $174.8 billion.

Read more: Societe Generale Selects Bullish Europe to Debut Its USD Stablecoin



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Euro Stablecoins
Crypto Trends

Nine Banks Unite On Euro Stablecoin, Eye Rollout In H2 2026

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Nine major European banks have formed a consortium to launch a MiCAR-compliant euro-based stablecoin in the second half of next year.

ING, UniCredit, & Other European Banks Are Coming Together For Stablecoin

As announced in a press release by Italian banking giant UniCredit, the bank is joining forces with eight other major European institutions to launch a stablecoin pegged to the euro.

“This digital payment instrument, leveraging blockchain technology, aims to become a trusted European payment standard in the digital ecosystem,” read the press release.

The stablecoin will have compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCAR), the bloc’s comprehensive framework on cryptocurrencies. MiCAR covers a range of areas, like issuance and custody of digital assets, as well as the operation of platforms related to them.

The full list of banks that have come together to form the consortium for the euro-denominated token includes: ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International.

All of these are major banking players, but two are perhaps particularly prominent: ING and UniCredit. ING is a Dutch multinational bank that’s designated as a Global Systemically Important Bank (G-SIB) by the Financial Stability Board (FSB). G-SIBs are considered to be institutions so ingrained into the world financial order that any disruptions related to them can have widespread economic consequences. Italy’s UniCredit was also included in this category until 2023, when FSB removed it from the list.

The nine banks have formed a new company in the Netherlands, planning to get approval from the Dutch Central Bank as an e-money institution. The press release noted that the consortium is welcoming more banks to join them. The stablecoin, which is currently slated for issuance in the second half of 2026, will be positioned as a real European alternative to the currently US-dominated market.

“At UniCredit, we believe in the importance of a stronger Europe and in the power of constructive dialogue and collaboration,” said Fiona Melrose, Head of Group Strategy and ESG at UniCredit. “By joining this consortium of leading European banks, we are contributing to fill the need for a trusted, regulated solution for on-chain payments and settlement.”

The consortium also intends to appoint a Chief Executive Officer (CEO) in the near future, subject to regulatory approval, to lead the new entity in the Netherlands.

Meanwhile, in the US, stablecoins have been seeing regulatory momentum lately. Just this Tuesday, the Commodity Futures Trading Commission (CFTC) launched an initiative to explore their use as collateral in derivatives markets, a move that could further integrate them into mainstream finance.

Bitcoin Price

Despite nearly making a recovery toward $114,000 on Wednesday, Bitcoin has taken another hit as its price has slipped down to $111,200.

The trend in the BTC price over the last five days | Source: BTCUSDT on TradingView

This change of direction in the cryptocurrency has brought with it liquidations of over $76 million in the derivatives market.

The 24-hour liquidation heatmap for the digital assets sector | Source: CoinGlass

Featured image from Dall-E, CoinGlass.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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UniCredit, ING Among 9 Banks Launching Euro Stablecoin
Crypto Trends

UniCredit, ING Among 9 Banks Launching Euro Stablecoin

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A group of major European banks have joined forces to launch a euro-pegged stablecoin in compliance with Europe’s Markets in Crypto-Assets (MiCA) framework.

Dutch lender ING and Italy’s UniCredit are among nine banks participating in the development of a new euro-denominated stablecoin, according to a joint statement published by ING on Thursday.

Built in compliance with Europe’s MiCA regulation, the stablecoin is planned to be issued in the second half of 2026, with a mission to become a trusted European payment standard in the digital ecosystem.

The announcement notes that the initiative aligns with Europe’s plans to provide a local alternative to the US-dominated stablecoin market, contributing to its strategic autonomy in payments.

Banks from eight EU member states initially involved

Alongside ING and UniCredit, the European stablecoin initiative also includes Spain’s CaixaBank, Denmark’s Danske Bank, Austria’s Raiffeisen Bank International, Belgium’s KBC, Sweden’s SEB, Germany’s DekaBank and another Italian lender, Banca Sella.

The founding members have also established a new company headquartered in the Netherlands, ING’s home country, to oversee the development and management of the stablecoin.

The banking consortium said in the joint announcement that it remains open to other banks joining the stablecoin project.

24/7 access to cross-border payments

According to the statement by ING, the projected euro stablecoin is expected to provide “near-instant, low-cost payments and settlements,” enabling 24/7 access to cross-border payments.

The stablecoin is also set to offer programmable payments and improvements to supply chain management and digital asset settlements, which can vary from securities to cryptocurrencies.

“Digital payments are key for new euro-denominated payments and financial market infrastructure,” said Floris Lugt, ING’s digital asset lead and joint public representative for the project.

“We believe this development requires an industry-wide approach, and it’s imperative that banks adopt the same standards,” he added.

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Mid-2029 A Fair Timeline For Digital Euro
Crypto Trends

Mid-2029 A Fair Timeline For Digital Euro

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The digital euro, the European Union’s long-planned central bank digital currency (CBDC) project, is facing delays, with its launch now expected around mid-2029.

The EU’s digital euro could become a reality in 2029, European Central Bank Executive Board member Piero Cipollone said in a Bloomberg Future of Finance event Tuesday in Frankfurt.

“The middle of 2029 could be a fair assessment,” he said, adding that the ECB has been actively discussing the project at the level of EU member states.

If correct, Cipollone’s timeline would signal another delay for the digital euro, despite widespread calls to launch the CBDC to protect Europe’s financial sovereignty amid the US stablecoin push.

European Parliament is holding up progress

According to Cipollone, the European Parliament has been the biggest obstacle to progress toward a digital euro, as it must pass legislation to move forward with the project.

“We should arrive at a general approach, as they call it, an agreement among member-states by the end of the year,” he said, adding that the Parliament is likely to have a position on a digital euro by May 2026.

ECB Executive Board member Piero Cipollone in Frankfurt on Tuesday. Source: Bloomberg

Cipollone’s assessment on Europe’s CBDC launch came soon after EU ministers reached a “compromise” on the digital euro roadmap last week, imposing holding limits on the potential digital currency.

Related: EU lawmakers skeptical of digital euro as ECB renews pitch

“The compromise that we reached is that before the ECB makes a final decision in relation to issuance […] there would be an opportunity for a discussion in the Council of Ministers,” Irish Finance Minister and Eurogroup President Paschal Donohoe said at a news conference last Friday.

A MEP to report on progress on Oct. 24

While Cipollone expects the digital euro won’t launch before mid-2029, European authorities are pressing ahead with CBDC preparations, with the ECB targeting October to decide whether to move to the next phase.

A spokesperson for the ECB told Cointelegraph on Wednesday that a member of the European Parliament (MEP) is expected to deliver a progress report on the digital euro on Oct. 24.

Following the report, lawmakers will have six weeks to put forward amendments and a further five months for discussions, Cipollone reportedly said.

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Polymarket CEO Shayne Coplan at Consensus 2024 (CoinDesk).
NFT Gaming

ECB Says Digital Euro a Necessary Tool During Major Disruptions

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A digital euro would be required to ensure users can still make payments during major outages, according to European Central Bank (ECB) board member Piero Cipollone.

A Eurozone central bank digital currency (CBDC) could provide business continuity in the event of a cyberattack on banks or other payment providers, Cipollone said at the European Parliament in Brussels on Thursday.

“If a cyberattack caused the outage of a bank’s own app, but the bank’s backend services were still functioning, customers would still be able to access their accounts with that bank through the ECB’s digital euro app,” he said.

Furthermore, if a digtal euro app had offline functionality, it could provide a failsafe for users during a power outage that takes regular methods of payment offline.

“Cash is our only true fallback…but as society increasingly moves away from cash, and as cash itself may be difficult to access in emergencies, we need to complement it with a digital version,” Cipollone added.

The ECB, like its counterparts in almost every other economy around the world, has been exploring the possibilities of a digital version of its currency for a number of years.

Among their motivations are addressing the competition provided by stablecoins and non-bank payment services such as Apple Pay, Google Pay, PayPal and so on.



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What a Digital Euro on Ethereum or Solana Means for Europe’s Monetary Sovereignty

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In brief

  • The U.S.’s recently passed stablecoin law has heightened pressure on Europe to accelerate digital euro plans.
  • Deploying on Ethereum or Solana could expand global use of the currency, Decrypt was told.
  • Yet privacy, governance and banking stability remain key concerns for officials.

European officials are considering whether to issue the digital euro on public blockchains like Ethereum or Solana, in a departure from earlier plans for a closed, centrally run system.

The debate has intensified in recent weeks ever since the U.S. passed its first stablecoin law in July, giving regulated dollar-backed tokens a head start in global finance.

Ram Kumar, a core contributor at blockchain infrastructure firm OpenLedger, told Decrypt that deploying the euro on a public chain would dramatically expand its reach.



“It would open the euro to the wider crypto economy instantly,” Kumar said. “It could plug into DeFi, global wallets, and cross-border payments without needing to build that infrastructure from scratch.”

Ethereum could offer “programmability and access to a rich developer ecosystem,” Kumar said, while Solana provides “low fees and high throughput that can handle consumer-scale payments.” 

Both, he said, would make the euro more visible beyond Europe in ways a private ledger cannot. 

Kumar added that the U.S.’s stablecoin legislation, dubbed the GENIUS Act, is forcing Europe to move faster. 

“If the dollar gets a head start in digital payments, it risks overshadowing the euro in global finance,” he said.

The Financial Times first reported that officials were considering the use of public blockchains late last week.

Mounting pressure

Still, risks over such a model remain. 

Privacy is the foremost concern, with public blockchains clashing with the EU’s GDPR framework, which includes rights such as data erasure, and the European Central Bank’s stated goal of preserving cash-like anonymity in digital payments.

Technical and governance issues also persist, including Ethereum’s scalability limits, Solana’s reliability record, and the reality that upgrades and validators would remain outside direct state control. 

Policymakers have warned that a widely accessible euro token could pull deposits from banks if not carefully designed.

In April, ECB executive board member Piero Cipollone warned that U.S. stablecoins could move deposits from European banks and strengthen the dollar’s global role.

Measures taken by the new U.S. administration under Trump “to promote crypto-assets and U.S. dollar-backed stablecoins” are raising concerns for “Europe’s financial stability and strategic autonomy,” Cipollone wrote at the time.

An ECB spokesperson told Decrypt its position remains unchanged, pointing to Cipollone’s confirmation in July that a digital euro could be technically ready “in the next two-and-a-half to three years after the legislation is in place.”

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Don't let an apathy towards trucks drive you away from American Truck Simulator and Euro Truck Simulator 2 now they're heading to PS5 and Xbox
Game Reviews

Don’t let an apathy towards trucks drive you away from American Truck Simulator and Euro Truck Simulator 2 now they’re heading to PS5 and Xbox

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If I had to make a list of the things in life I have absolutely no interest in, trucks would be pretty near the top. And yet, I am obsessed with developer SCS Software’s Truck Simulator series of games. And so, following the news both American Truck Simulator and Euro Truck Simulator 2 are at long last making their way to PlayStation 5 and Xbox Series X/S, I’m here to convince you their soothing expanses of endless virtual highway might also be for you, even if you don’t know your backhaul from your bill of lading.


The downside to this whole not-being-into-trucks thing is, of course, that I’m a terrible guide through the series if you’re here for proper hobbyist reasons, so apologies in advance. For me, though, the appeal is not so much the allure of a Hopper Body and the promise of a lubricated Glad Hand, as it is the pure ASMR pleasures of hours spent in empty minded tranquility with naught for company but the swoosh of scenic vistas, the tick of an indicator, the quiet hum of an air-conditioned cabin, and the lulling rumble of rubber on road.


I’m being a little reductive, admittedly. Well, a lot actually. Even without delving deep into the Truck Simulator games’ more specialist particulars, there’s a lot to love. There’s the fundamental progression system that sees you doing odd jobs in loaned trucks and then scrambling up the XP tree to unlock new missions, or stockpiling enough cash that you’re able to buy your own truck, even start your own business with your own HQ. It’s not necessarily a particularly flashy package, but its basic structure is sound enough that it provides an additional layer of focus to your life on the open road. Chuck in the kind of cabin customisation that lets you scatter tatty souvenirs and pizza boxes around the place (honestly, I love this kind of nonsense), occasional community events, and a multiplayer mode enabling up to eight friends to form a convoy – a wonderfully, surprisingly hilarious recipe for chaos with the right (or wrong, depending on your perspective) people – and it’s brilliantly compelling, even if you don’t give a truck about trailers and the like.

ATS and ETS 2 are coming to consoles.Watch on YouTube


As for the different flavours of sim coming to Xbox and PlayStation, both – if you’re not already aware – are fundamentally the same experience, just with a very obvious change of scenery between them. Personally, I’m far more partial to the big skies and breathtaking wilderness of American Truck Simulator than its European counterpart (the sheer uncanny weirdness of ETS2’s deeply unconvincing UK expansion was a bit of a turn-off when I tried it a fair few years back), but your mileage – no pun intended – will almost certainly vary.


Unfortunately, SCS’ Truck Simulator console announcement is almost completely devoid of specifics, so pretty much all we can say with certainty right now is that ATS and ETS 2 are on the way. I’d assume both will be pretty close to their PC counterparts (minus, perhaps, extended peripheral support and mod availability), especially after all the work SCS has done to improve controller support and upgrade the interface over time. It will, though, be interesting to see how the studio handles the games’ years of paid cosmetic, truck, and map expansion DLC. A couple of free packs-ins to help consoles catch up? Starter bundles? Nothing of the sort? Time will reveal all.


So there you go; American Truck Simulator and Euro Truck Simulator 2 are finally making their way to Xbox Series X/S and PS5. And if the thought of the open road and an endless shifting horizon stirs even the faintest twinge of latent yearning, you’d do well to lean in. You too might discover a love for a virtual four-wheeled life of adventure hitherto unknown.



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EU speeds digital euro plans with Ethereum and Solana
NFT Gaming

EU speeds digital euro plans with Ethereum and Solana

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The European Union is stepping up its plans for a digital euro, now exploring the use of public blockchains such as Ethereum and Solana to expand its reach.

Summary

  • The EU is fast-tracking plans for a digital euro, with officials now considering public blockchains for its launch.
  • U.S. stablecoin regulations and the rising global adoption of digital currencies have raised concerns about the euro’s competitiveness.
  • European banks have reportedly expressed resistance, warning that the digital euro could reduce demand for traditional financial services.

The EU is accelerating efforts to launch a digital euro amid growing concerns over losing ground as global competition rises. According to an Aug. 22 Financial Times report, the push is in response to increased adoption of stablecoins and new regulatory clarity in the United States after the passage of the GENIUS Act.

Officials fear that the U.S. regulation could further strengthen the dollar’s dominance in the $288 billion stablecoin market, which is already largely composed of USD-pegged tokens. This, in turn, could weaken the euro’s global influence and has prompted the EU to speed up its digital currency plans.

The European Central Bank has been exploring the launch of a digital euro for several years, which will be an electronic form of cash usable for financial transactions across the Eurozone. The push is driven by rising global demand for digital payment systems and the declining use of cash.

Central Bank executive board member Piero Cipollone said earlier in May that while cash will remain available, it “cannot do the job” alone in the digital age. He added that a central-bank-backed digital currency would ensure public money remains accessible, complement cash, and ensure that the euro remains relevant in a digital world.

EU eyes Ethereum and Solana for digital euro rollout

As part of efforts to speed up the launch, officials are now weighing the option of using public blockchains. Previous plans had focused on launching the digital euro on a private blockchain, where payments and wallets would remain under the direct supervision of the European Central Bank.

Officials are now considering Ethereum and Solana as potential options, driven by expectations that their use could enable wider circulation and support global adoption.

However, not everyone is on board with the initiative, and European banks have reportedly pushed back against the rollout of a digital euro. Earlier reports indicated that banks view the digital currency as a potential threat to their existing business models, expressing concerns that it could reduce interest in traditional financial services.

For now, the expected rollout timeline of the digital euro remains uncertain. The Central Bank had previously suggested October 2025 as a possible launch date, but recent developments indicate the project may be fast-tracked. The launch is also subject to legislative approval and the implementation of all necessary regulations.



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