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The European Central Bank establishes an innovation center for testing the digital euro.

According to Odaily, the European Central Bank (ECB) has announced the creation of an innovation center composed of 70 institutions to test its digital euro project. Participants include Accenture, the Swiss telecommunications company Swisscom, the Spanish bank CaixaBank, and KPMG, one of the Big Four in accounting, as well as various startups, banks, and payment service providers. The center aims to explore the payment functionalities and application scenarios of the digital euro. The ECB expects to complete the preparation phase by October 2025, with the official issuance depending on the progress of EU legislation.