Bundesbank advocates for the interlocking of the digital euro and Wero

Background: Wero and EPI

Wero is backed by the European Payments Initiative (EPI), supported by banks from several European countries, including players from Belgium. The goal is to build an alternative in Europe to international card networks and platforms such as PayPal. The initiative sees itself as a joint European answer to the fragmentation of digital payments.

The Bundesbank emphasizes that the digital euro should not compete with Wero. Rather, both systems could mutually reinforce each other if interfaces, standards, and user experiences were aligned. Lienenkämper also pointed to the legal framework set by the European Central Bank (ECB) for the issuance of a digital euro, and to data protection, which plays a central role in the ECB's concept.

Strategic goal: European sovereignty

From the Bundesbank's perspective, both projects pursue a common strategic goal: strengthening European sovereignty in payments. By having public digital infrastructure and private European solutions interlock, dependence on non-European providers is to be reduced. In this context, Lienenkämper spoke of a "European path" for digital payments.

The Bundesbank also sees points of connection in retail banking. Wero already enables peer-to-peer transfers as well as online and in-store payments in several European countries. A digital euro could complement these uses, for instance in places where central bank money in digital form is desired, without displacing cash.

Focus on retail customers

Verbatim Lienenkämper states: "Ein digitaler Euro ist Zentralbankgeld für den digitalen Raum: allgemein zugänglich, sicher, europäisch und mit hohem Datenschutz - als Ergänzung zu privaten Zahlungslösungen und auch zum Bargeld, nicht aber als deren Ersatz.

At the EPI, banks from Belgium, Germany, France, the Netherlands, and other countries are working together. Luxembourg, as the seat of European financial institutions, also plays a role in the European payment ecosystem. The EPI cooperates with the ECB to coordinate technical and regulatory issues relating to interoperability and consumer protection.

Outlook and next steps

The Bundesbank points out that a closer technical interlocking will take time. Both the preparation of the digital euro and the further rollout of Wero are at different stages. A joint roadmap covering disbursement channels, authentication, and acceptance points is therefore a logical next step.

With regard to consumers in Germany, the Bundesbank says the focus is above all on trust, transparency, and freedom of choice. Anyone in Germany who today pays by card, app, or transfer should in future be able to recognize whether a European provider, a foreign platform such as PayPal, or, going forward, the digital euro stands behind a transaction.

The discussion comes at a phase in which the European Central Bank is further concretizing the technical architecture of the digital euro. At the same time, the EPI is driving the expansion of Wero, including through the gradual extension of functions and countries. The Bundesbank sees this as an opportunity to set European standards before global providers further segment the market.

In closing, Lienenkämper stressed that a coordinated European strategy in payments is significant not only economically but also politically. A digital euro in combination with European private initiatives such as Wero could help make Europe's strategic autonomy visible in the everyday lives of its citizens.