European Central Bank Launches Innovation Hub to Advance Digital Euro Trials

The European Central Bank (ECB) has unveiled a new innovation hub composed of 70 organizations to support testing of its digital euro initiative, according to Odaily. The collaborative group includes major players such as Accenture, Swisscom, CaixaBank, KPMG, as well as numerous startups, banks, and payment service providers. The hub will focus on evaluating the digital euro’s payment features and potential real-world applications. The ECB expects to complete the preparation phase by October 2025, with the launch of the digital currency contingent on forthcoming EU legislative developments.