The European Union (EU) will launch a digital wallet allowing citizens of any country in the bloc to make payments and access services provided by each state, also allowing for the storage of digital ID information. The wallet, which will reportedly be launched next year, could be tied in with the digital euro project, a central bank digital currency (CBDC) proposal that the ECB is still working on.
European Union to Release Digital Wallet for Payments Next Year
The European Union has plans to release a digital wallet that would allow its citizens to make payments across all member states with minimal friction. The wallet would be launched next year and integrate private and public services under just one app, according to a report from Reuters.
The wallet would work as a sort of payments and ID vault, and would allow users to store digital equivalents of their physical permits, such as passports or driver’s licenses, integrating other state-dependent