The European Central Bank has signed agreements with three standard-setting bodies to reduce the cost of accessing the digital euro.

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ME News, April 24 (UTC+8), the European Central Bank (ECB) recently signed an agreement with European Card Payment Cooperation, Nexo Standards, and Berlin Group to reuse existing open payment standards in digital euro transactions. This move aims to reduce system access costs for banks, merchants, and payment service providers. The relevant standards include contactless payments, connections between merchants and payment service providers, and payment methods based on aliases such as phone numbers. The ECB stated that this will help reduce market adoption costs and promote a unified digital euro user experience in the eurozone. Previously reported, the ECB's analysis indicated that the digital euro could cost EU banks approximately 4 to 6 billion euros within four years. (Source: MLion)
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