The European Central Bank (ECB) is offering a big chunk of cash to contractors who can enable offline payments for a retail digital euro. In calls to find providers for a range of features, including risk management, information security and a user application, the ECB revealed plans to allocate as much as 1.2 billion euros ($1.3 billion) to potential contractors. More than half is earmarked for the offline payments service. The $1.3 billion may seem like a lot of money, but what the ECB’s asking for is no mean feat, Jonas Gross said in an interview. For the ECB’s expectations, the budget seems reasonable, he said. Almost 56% is promised to potential providers of the offline component of the CBDC, Gross pointed out.
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