European Central Bank Selects Network Service Providers for Digital Euro

The European Central Bank (ECB) has announced the selection of two network service providers (NSPs) for the digital euro project. Nexi Payments S.p.A and Deutsche Telekom Business Solutions GmbH (as a temporary grouping), along with Telefónica de España, S.A.U., Telefónica Global Solutions, S.L.U. and Indra Soluciones Tecnologías de la Información, S.L.U. (as a temporary grouping), will provide the necessary connectivity services. These NSPs will connect participating payment service providers and national central banks to the digital euro service platform, with services expected to be ready for potential issuance by 2029, following a pilot phase.