The digital euro, issued and backed by the Eurosystem, aims to complement cash, enhance financial inclusion, and reinforce Europe’s monetary sovereignty. This initiative strategically seeks to strengthen the EU’s technological autonomy and resilience against cyber threats and disruptions.
The European Central Bank has chosen two Italian companies, Almaviva and Fabrick, to develop the official mobile application and infrastructure for the digital euro, marking a significant step towards a Central Bank Digital Currency (CBDC) in Europe.
Almaviva, known for its digital innovation, and Fabrick, a Sella Group company specializing in open finance, will create a user-friendly app that provides seamless access to the digital euro across smartphones, tablets, and smartwatches. This app will ensure a consistent experience for all EU citizens, enabling secure digital payments in stores, online, and peer-to-peer.
In addition to the app, the companies will develop an open and interoperable technological framework, including SDKs and APIs, allowing European payment service providers to integrate their offerings with the digital euro platform. This is anticipated to accelerate adoption and foster innovation within the continent’s payments ecosystem.
The contract for Almaviva and Fabrick is set for an initial term of four years, with potential extensions up to ten years. The first two years will focus on development and phased rollout, followed by stabilization and operational readiness. The framework agreement is valued at approximately €153 million.