Italian Payments Giant Nexi Says It Is ‘Contributing’ to Design of Digital Euro
“We are starting to talk about a new version of cash,” Nexi’s CEO said. “That’s why we are engaging with the ECB.”
The head of Italian payments giant Nexi says his company is “engaging” with the European Central Bank (ECB) and “contributing” to the design of the bloc’s digital euro.
Speaking at the Money 20/20 conference on Thursday, Nexi CEO Paolo Bertoluzzo told CNBC’s Karen Tso a central bank digital currency (CBDC) could be a “force” in the evolution of digital payments.
“We are starting to talk about a new version of cash,” Bertoluzzo said. “That’s why we are engaging with the ECB.”
In July, the ECB said it would move to the exploration phase of its plans to develop a digital euro. Earlier this month, Jurgen Schaaf, an adviser to the ECB, said the two-year investigation period was not a confirmation that the plans would go ahead.
In the meantime, China has forged ahead with its digital yuan. In August, the digital yuan was used in the domestic futures market for the first time following multiple other test runs.
The U.S. has fallen behind China and the European Union, and has yet to consider exploring a digital dollar for its domestic and global markets. A U.S. report from the Federal Reserve on the benefits of CBDCs is expected sometime later this month.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.