European Central Bank sets the Innovation Hub to test CBDC while the preparation stage is close

The European Central Bank (ECB) said it set up a change hub with 70 participants to test the digital euro project.

Participants include start-ups, banks and payment services including Global Professional Services Company Accenture, Swiss Telecommunications Company Swisscom, Spanish Bank Caixabank and Audit and KPMG’s tax firm, said it on a release of Monday. Companies have signed up to cooperate with the ECB to explore digital digital digital currency payments and use cases, the release said.

ECB has released a call to small and large merchants, bank and payment services Providers last year. Central Bank President Christine Lagarde said the CBDC test stage, which it called Phase of preparationMust end in October. A decision on whether or not to issue a digital euro is expected to occur after the law.

Read more: ECB targets October to finish the digital euro preparation stage