Italian payments giant Nexi says it is working with the European Central Bank on its proposed central bank digital currency.
“We are engaging with the European Central Bank and contributing to the design of the future digital euro because we believe that can be a positive force in the evolution of digital payments,” Nexi CEO Paolo Bertoluzzo told CNBC’s Karen Tso at the Money 20/20 fintech conference in Amsterdam on Tuesday.
The ECB outlined its plans for a digital version of the euro in July. The euro zone’s central bank envisages the currency as complementary to its existing monetary system, rather than replacing physical cash or reducing the role of commercial lenders.
An ECB spokesperson declined to comment.
Central banks around the world are actively working on or exploring their own central bank digital currencies, or CBDCs. It comes as cash use is increasingly on the decline in several developed economies, and amid growing interest in cryptocurrencies like bitcoin.
Crypto. The buzzword you hear everywhere from the news to friends hyping it up. Has the craze gone mainstream and reached businesses?
Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the U.S. to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.
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Payments professionals across the ecosystem will find this infographic to be a great resource as the market continues to evolve. Are you working with merchants on a crypto strategy?