The European Central Bank (ECB) has allocated $1.3 billion to contractors who can enable offline payments for the digital euro. 
Jonas Gross, chairman of the industry group the Digital Euro Association (DEA), believes that the budget is reasonable.
Last year, the European Central Bank (ECB) concluded the investigation phase of its digital euro which lasted for two years. On November 1, 2023, the preparation phase commenced to finalize the rulebook and the selection of providers to develop the infrastructure. This is also expected to last for two years.
According to the latest report, the ECB has allocated a whopping sum of $1.3 billion to contractors who can enable an offline payment for the retail digital euro. The official website of the Bank has also confirmed that providers for several features including “risk management, information security, and a user application” are needed.  
According to Jonas Gross, chairman of industry group the Digital Euro Association (DEA), the $

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