Italian payment giant Nexi He states that he is working with the European Central Bank on the proposed central bank digital currency.
Nexi CEO Paolo Bertoluzzo told CNBC’s Karen Tso on Money 20/20. “We are working with the European Central Bank to help design the digital euro of the future. The FinTech conference in Amsterdam on Tuesday.
ECB Digital version of the euro In July. Eurozone central banks envision currencies as a complement to the existing monetary system, rather than replacing physical cash or reducing the role of commercial lenders.
An ECB spokesman declined to comment.
Central banks around the world are investigating whether they are actively working on their own Central Bank Digital Currency (CBDC).It comes from the ever-decreasing use of cash in some developed countries and the growing interest in cryptocurrencies such as: Bitcoin..
China Major players In competition for the CBDC, we have tested digital yuan currencies with millions of citizens in many regions.Earlier this year, the Federal Reserve Board said it Immediately publish a research treatise Bank of England I will check again Possibility of digital money issued by a central bank.
The Nexi chief said he was helping his company communicate the ECB’s thoughts on the CBDC.
“Obviously there’s more, so the situation will evolve,” Bertruzzo said. “We’re starting to talk about the new version of cash. That’s their way of thinking.”
Bertoluzzo said digital currencies such as Bitcoin and Ethereum are unlikely to affect cross-border payments, citing significant fluctuations in the prices of such assets.
“They are clearly in the asset class,” he said. “But they fluctuate up and down every day based on the latest statement from someone in Silicon Valley … this is the exact opposite of what you need to pay. You’re worth exchanging. Requires certainty. “
“Today, these types of cryptocurrencies basically do not affect payments,” said Bertruzzo, who said that CBDCs and stablecoins designed to avoid the volatility found in other cryptocurrencies. I think it will play a much bigger role.
With a market value of over $ 20 billion, Nexi is one of the largest payment companies in the European Union. Last year, the company signed two major acquisitions and agreed to acquire rivals SIA and Nets for a total of $ 14.5 billion.Compete with the Netherlands for business in the field of electronic payments Adyen And in France World line..
Nexi, a payment giant working for the European Central Bank in digital euros
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