The European Central Bank (ECB) said it has set up an innovation hub with 70 participants to test the digital euro project.
Participants include startups, banks and payment services, including global professional services firm Accenture, Swiss Telecommunications Company Swisscom, Bank of Spain Caixabank, and audit and tax company KPMG. Companies are signing up to work with the ECB to explore central bank digital currency payment capabilities and use cases, the release said.
The ECB called merchants, large and small, banks and payment service providers last year. Central bank President Christine Lagarde said the CBDC testing phase, known as the preliminary phase, should be over by October. A decision on whether to issue a digital euro is expected to occur after the law comes into effect.
Read more: ECB Target Finishes Digital Euro Preparation Phase in October
