European Central Bank sets out €1.3 billion digital euro development plan

According to DLnews, the European Central Bank is preparing to pay €1.3 billion to private sector partners to help develop the digital euro. The selected partner institutions' task will not only be to develop an application for the digital euro, but they will also provide offline payment solutions and manage fraudulent behavior.The European Central Bank stated that it will seek partners for five independent plans. The budget for developing offline payments is the highest, reaching €662 million, followed by risk and fraud management, with a budget of €237 million. In addition, the central bank "does not commit to launching any of the listed development work."