The European Central Bank has signed agreements with three standardization organizations to reduce the access costs of the digital euro.

Deep Tide TechFlow News, April 24, According to Cointelegraph, the European Central Bank (ECB) has signed agreements with European Card Payment Cooperation, Nexo Standards, and Berlin Group, intending to reuse existing open payment standards for digital euro transactions to reduce system access costs for banks, merchants, and payment service providers. The relevant standards cover contactless payments, merchant and payment service provider connections, and alias payments based on phone numbers and other identifiers. The European Central Bank stated that this move will help reduce market adoption costs and promote a unified digital euro usage experience across the Eurozone. Previously, Reuters cited analysis from the European Central Bank indicating that the digital euro could bring approximately 4 billion to 6 billion euros in costs to EU banks within four years.