ECB signs standards deals to cut digital euro integration costs

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The standards to be included. Source: ECB The ECB said the agreements are intended to encourage early coordination among payment service providers, standardization bodies and other market participants before a possible digital euro launch. The central bank said Europe currently lacks a universally available open standard supported across payment terminals and remains heavily dependent on proprietary standards owned by international card schemes and global digital wallets. Related: ECB backs tokenized EU capital markets with strict guardrails The standards push follows earlier signals that the ECB wants the digital euro’s technical framework clarified so banks and merchants can begin preparing their systems. On March 25, ECB Executive Board member Piero Cipollone said the central bank expected to announce key technical standards by the summer. The ECB is also separately recruiting payment service providers for a 12-month digital euro pilot expected to start in the second half of 2027. On Feb. 18, the ECB said the pilot will involve a limited number of payment service providers, merchants and Eurosystem staff, with PSPs playing a central role in digital euro distribution. Magazine: Ripple joins Singapore sandbox, Bhutan’s big Bitcoin selloff: Asia Express

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