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ATH Recap: Bitcoin hit its ATH of $109,702.5 on Jan 20, 2025, followed by a consolidation phase.
Recent Trends: With easing geopolitical tensions, sustained institutional inflows, and improving market sentiment, BTC has shown strong upward momentum.
This Week’s Key Question: The market looks bullish, but the ATH remains a major resistance level.
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ECB's Digital Euro Project Taps COTI as Pioneer Partner
Although the general conception of CBDCs has slowed down in recent years, especially since the arrival of US President Trump, who vowed to ban such a product in the US, the European Central Bank continues to make attempts to launch a digital version of the widely used currency within its jurisdiction – the euro.
The latest news on the topic informed that the central bank has picked COTI as a Pioneer Partner in its Digital Euro project.
The press release shared with CryptoPotato indicated that both parties will collaborate with other organizations to develop a solution for a euro-wide central bank digital currency.
The idea behind Europe’s CBDC is to complement cash and facilitate secure, fast, and even private payments across the region’s economy.
The role of a Pioneer Partner will allow COTI to use and improve existing ECB infrastructure to “test its privacy solution for conditional payments.” According to the PR, this will help ensure that “asset provenance can be verified without exposing sensitive user information,” which is a key requirement for a CBDC system.
COTI, which introduced its V2 developer network last year, has already worked on similar projects with the Bank of Israel’s Digital Shekel. It developed a proof-of-concept for “confidential, trustless cross-border transactions using garbled circuits.”