Italian Payments Giant Nexi Involved in Digital Euro Project

Nexi, a leading European payments company, is reportedly giving advice to the European Central Bank (ECB) related to the digital euro project. The announcement was made by Nexi’s CEO Paolo Bertoluzzo, who also gave his opinion about the future of central bank digital currencies (CBDC) and cryptocurrencies during the Money 20/20 fintech conference in Amsterdam.

Nexi Advising ECB on Digital Euro Issues

We are engaging with the European Central Bank and contributing to the design of the future digital euro because we believe that can be a positive force in the evolution of digital payments.

Nexi offers payments services for other banks, managing 41.3 million payment cards and 2.7 billion transactions each year, according to reports. Nexi also offers services for merchants and digital banking groups. As to the nature of the collaboration, Bertoluzzo stated:

We’re starting to talk about a new version of cash. That’s the way they think about it.

CBDCs Could Be the Future of Payments

They are clearly an asset class. But they fluctuate up and down on a daily basis based on the latest statement from someone in Silicon Valley.

The EU is playing catch up with countries like China, which is already well advanced in its CBDC project, a digital representation of the renminbi. The digital euro is just starting to be investigated by the ECB, according to ECB president Christine Lagarde. This investigation phase could last two years, and the development of the CBDC would start immediately after.

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