Digitalization: Telekom and Telefonica to become service providers for digital euro
The ECB is relying on Deutsche Telekom and Telefónica as technology partners for the digital euro. The new currency is intended to reduce Europe's dependence on US payment services.
The European Central Bank (EZB) has selected Deutsche Telekom and Telefonica from Spain as technology partners for the planned introduction of the digital euro. The two companies will provide the network infrastructure for the digital currency. The EZB plans to start the pilot phase of the digital euro next year, with its official introduction expected in 2029. The digital euro is intended to complement, not replace, physical euro cash and will be accessible through an EZB app.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
