ECB Opens Bids for Components in Potential EUR 1.1 Billion Digital Euro Project

The European Central Bank is now accepting applications from potential vendors to supply components and related services for a potential digital euro, reports Finextra. The contracts associated with this initiative could reach a total value of over EUR 1 billion. In October, after an extensive investigation phase, the ECB progressed to the preparation phase for the digital euro, though a final decision on its implementation is still pending.

The central bank has released calls for applications to establish framework agreements for various components, including the alias lookup component, fraud and risk management component, app and SDK components, offline services component, and secure exchange of payment information component. The ECB will subsequently invite the highest-ranked respondents to submit offers through a formal Invitation to Tender.

These five agreements have the potential to be valued at around EUR 1.1 billion for vendors, and the contracts are expected to span four years, starting from early 2025. It's noteworthy that certain components, such as payment settlement, will be internally sourced from within the Eurosystem.