The European Central Bank (ECB) is seeking experts to help define how a potential digital euro could be used in ATMs and payment terminals. Experts joining working groups will participate in how a potential digital euro would be integrated with existing payment systems and technologies, including offline functionality and interoperability with standards used across European countries.
These working groups will report to a rule-making group that includes representatives from merchants, payment service providers, and consumers.
"The draft rules currently being developed will be flexible enough to accommodate future adjustments and will be updated based on the outcome of the legislative process for a digital euro. A possible decision by the ECB's Governing Council to issue a digital euro will only be made after the legislative act has been passed," the ECB stated.
Furthermore, the regulator has issued invitations to tender for companies capable of providing technical solutions and components for aspects such as alias lookup, fraud and risk management, offline services, and software development kits.
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