The European Central Bank has developed a 1.3 billion euro digital euro development plan

ChainCatcher news, according to DLnews, the European Central Bank is preparing to pay €1.3 billion to private sector partners to help develop the digital euro. The selected partner institutions will not only be tasked with developing an application for the digital euro, but they will also provide offline payment solutions and manage fraud.

The European Central Bank stated that it will seek partners for five independent programs. The budget for developing offline payments is the highest, reaching €662 million, followed by risk and fraud management, with a budget of €237 million. In addition, the central bank "does not commit to initiating any of the development work listed."