Representing over 440 million citizens and contributing more than $17 trillion in GDP, the eurozone is the world’s second-largest economy. The launch of the digital euro would represent Europe’s most significant financial innovation since the introduction of the common currency in 1999.
A €237 Million Framework for Security
The ECB’s framework agreement with Feedzai, supported by PwC as subcontractor, focuses on building a state-of-the-art fraud detection and prevention system. The agreement is valued at €79.1 million, with a maximum value of €237.3 million, and ensures full compliance with EU standards on security, privacy, and data protection.
While the framework sets the foundation, the final scope of work will be determined in collaboration with the ECB and other tenderers. Under the ECB Governing Council’s guidance and EU regulations, this effort will cover the design, integration, and development of the Digital Euro Service Platform (DESP).
The Digital Euro: Cash Reliability for a Digital Era
The ECB emphasizes that the digital euro is designed as a public good — a secure, central bank-backed currency that offers the reliability of cash in a digital form. Its core objectives include:
- Preserving the role of central bank money in a digital economy
- Reducing dependence on non-EU payment providers
- Enhancing Europe’s financial sovereignty
- Supporting financial inclusion across the eurozone
Privacy is central to the design. Transactions will include robust safeguards such as pseudonymisation, encryption, and the ability to make offline, cash-like payments for small amounts.
Feedzai’s Role in Fraud Prevention
Feedzai, ranked as the top tenderer, will provide the central fraud prevention engine for the digital euro. Its AI-powered platform will generate a fraud risk score for every transaction — whether peer-to-peer (P2P) or peer-to-merchant (P2M). Payment service providers (PSPs) will use this score alongside their own security checks to approve or decline transactions, ensuring stronger fraud protection at scale.
Nuno Sebastião, CEO and Co-Founder of Feedzai, stated:
“Being chosen to secure the digital euro is both an honor and a responsibility. With billions of transactions expected, success requires AI that evolves as fast as fraud. Our mission is to deliver intelligence that protects every digital euro transaction from day one.”
PwC’s global leaders, Liviu Chirita and Dominic Schauerte, added:
“This project represents one of the most important digital infrastructure initiatives in Europe’s history. Together with Feedzai and the ECB, we are creating safeguards that will protect millions of people and businesses. This is not only about stopping fraud — it’s about enabling Europe to lead with trust, resilience, and technological sovereignty.”
A Step with Global Impact
While the digital euro primarily addresses the needs of citizens and businesses within the eurozone, the project is being closely watched worldwide. Other central banks are monitoring Europe’s approach as part of the broader global conversation on the future of money and digital currencies.
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