Asia-Pacific emerges as a dominant force in the rapidly expanding stablecoin market

Norwegian central bank DNB’s decision to pull out of a planned stablecoin initiative highlights increasing caution among European banks amid regulatory uncertainties and operational hurdles in the crypto space.The Norwegian central bank along with the financial giant DNB recently announced that they’re pulling out of a planned European stablecoin project set for 2026, and they’re also putting their proposed cryptocurrency investment fund on hold, at least for now. This decision—well, it really underscores how uncertain things still are around stablecoins in Europe, especially when it comes to their maturity, regulatory clarity, and governance structures. And honestly, it’s a move with pretty big ripple effects for banks, investors, regulators, and policymakers alike. So, what are stablecoins exactly? They’re digital assets designed to keep their value stable in relation to fiat currencies or a basket of assets. They play a pretty important role—as a bridge, really—between traditional finance and the fast-growing crypto scene. Now, given the wild swings and failures seen in some cryptocurrencies and stablecoins, EU regulators decided to roll out the Markets in Crypto-Assets (or MiCA). The aim? To set up a comprehensive regulatory framework for those issuing and offering crypto assets and services. But, even with this framework in place, there's still a lot of practical hurdles—things like cross-border supervision, reserve and liquidity requirements, and technical interoperability that haven’t been fully ironed out yet. DNB’s decision to step back shows there are quite a few concerns, intertwined and complex. For one, the stablecoin market is still pretty young, and it doesn’t yet seem resilient enough to support widespread transaction use. There are real risks—liquidity stresses, vulnerabilities in smart contracts, systemic failures—that haven’t been solved. Secondly, even with MiCA’s existence, there are still grey areas when it comes to regulation: things like deposit protections, how reserves are supervised, and what legal forms are allowed. Plus, governance remains a huge question mark—what happens in a crisis? Who’s liable—the central bank? Commercial banks? Private issuers? These issues are still not clearly answered, and that uncertainty—that ambiguity—makes institutions cautious. Adding to that, engaging early in the space could bring reputational and regulatory risks for banks. That’s part of why DNB is taking a cautious stance, I guess. In addition to withdrawing from the European stablecoin consortium, they also paused the launch of their own cryptocurrency fund, which was supposed to roll out quite soon. This pause isn’t just about holding back; it’s more a sign that they see real opportunities but are prioritising risk management given the regulatory fog and operational hurdles. Eivind Aukrust, the Head of Index Management, shared this internally, emphasizing that the fund’s timeline remains uncertain for now. Now, this retreat from DNB isn’t just an isolated move—it also has some wider consequences for the market. For one, other financial institutions might follow suit, becoming more cautious. This could slow down private investment, which is vital for developing the infrastructure needed for stablecoins. Banks that want to offer products aligned with a common European framework might delay their launches until clearer supervisory guidelines and technical standards are established. The trouble is, if they hesitate too long, it could push consumers toward unregulated or decentralized options, making consumer protection more difficult and possibly increasing systemic risk. And while fintech companies with a higher risk appetite might try to step in temporarily, that brings its own set of risks, like defaults or scams. Meanwhile, on the flip side, a group of nine major European banks—like ING, UniCredit, SEB, and CaixaBank—are still working together to get a euro-linked stablecoin off the ground, aiming for a launch that complies with MiCA by late 2026. The goal here? To strengthen Europe’s control over its payment systems, which are currently somewhat dominated by US stablecoins, and to boost integration across the eurozone. Interestingly enough, DNB isn’t part of this initiative, which highlights differences in timing and risk appetite among these institutions. Looking ahead, a few different scenarios could unfold for Europe’s stablecoin scene and related crypto investment products. One possibility is what you might call an ‘wait and see’ approach—leading to market consolidation where stronger, well-capitalized players with solid governance models dominate, even if regulations are still catching up. Or perhaps regulatory standardization will drive banks to gradually get more involved in regulated stablecoin projects, often teaming up with established payment infrastructures. We might see a kind of dual market: one with carefully regulated, risk-mitigated stablecoins, and another with experimental tokens, possibly supported by faster-moving central bank digital currency (CBDC) pilots, either as alternatives or complements. But if European countries can’t agree or coordinate effectively, fragmentation could set in, creating regional silos that add to interoperability headaches and deepen competitive pressures. So, what should everyone do to deal with all these challenges? Well, practical steps for banks include trying out modular solutions with transparent governance and solid risk management—you know, using regulatory sandboxes to test things out and strengthen resilience. Supervisors need to clarify rules—preferably in a way that’s neutral towards technology—about reserves, liquidity, and how to handle crises, while also coordinating across borders to prevent a patchwork of standards. Investors should demand regulated custodians, independent audits of reserves, clear exit strategies, and diverse risk approaches when choosing providers. Policymakers, meanwhile, should focus on setting standards for interoperability, investing in research around payment infrastructure, and building digital identity systems that support safe, efficient transactions. Overall, DNB’s cautious retreat illustrates the ongoing balancing act faced by financial institutions and regulators alike: fostering innovation without risking systemic stability. It makes clear that, despite progress under frameworks like MiCA, Europe’s journey toward fully integrated, scalable, and trustworthy stablecoin ecosystems is still very much a work in progress. For everyone involved—market participants in particular—it calls for a measured approach that emphasizes compliance, transparency, and resilience. Only then can real consumer trust be built, paving the way for sustainable growth in digital finance. 📌 Reference Map: - Paragraph 1 – [1], [3], [4] - Paragraph 2 – [1], [4] - Paragraph 3 – [1], [3], [2], [7] - Paragraph 4 – [1], [3], [4] - Paragraph 5 – [1], [4] - Paragraph 6 – [1], [4] - Paragraph 7 – [1], [3], [5], [7] - Paragraph 8 – [1] Source: Noah Wire ServicesVerification / Sources https://bitcoin-faq.net/dnb-zieht-sich-vom-europaeischen-stablecoin-projekt-2026-zurueck/ - Please view link - unable to able to access data https://www.conflingo.com/news/2025-09-17/dnb-postpones-launch-of-cryptocurrency-investment-fund - DNB has decided to delay the introduction of its planned cryptocurrency investment fund, which was initially scheduled to launch on Friday. The decision was made following a comprehensive assessment, as communicated by Eivind Aukrust, Head of Index Management at DNB, in an email to BankShift. The timeline for the fund's potential launch remains uncertain. https://www.kaupr.io/en-us/news/dnb-not-participating-in-joint-euro-stablecoin-in-this-round - DNB has confirmed that, despite ongoing discussions with the promoters of the new Euro stablecoin consortium, it has chosen not to join this initial round. The bank will continue its dialogue with the banking consortium and is open to potential future participation, though it remains uncertain when or if DNB will join. https://www.coindesk.com/business/2025/09/25/nine-european-banks-join-forces-to-issue-mica-compliant-euro-stablecoin/ - Nine major European banks, including ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International, have formed a consortium to launch a euro-denominated stablecoin regulated under the EU's Markets in Crypto Assets (MiCA) framework. The stablecoin is expected to be issued in the second half of 2026, aiming to provide a European alternative to US-dominated stablecoins and enhance Europe's strategic autonomy in payments. https://www.kaupr.io/en-us/news/dnb-is-considering-launching-a-broad-crypto-fund-to-its-clients - DNB is internally discussing the possibility of launching a crypto fund, noting interest from customers seeking broad exposure to cryptocurrencies. Knut Hellandsvik, Head of Equity at DNB Asset Management, mentioned that the idea is to gain broad exposure, including through value chains, exchanges, and companies that own significant amounts of crypto. The bank is considering setting something up, similar to its approach with nuclear power. https://www.cnbc.com/2023/07/19/nasdaq-pauses-plans-to-launch-crypto-custody-services-.html - Nasdaq has paused its plans to launch a crypto custody business, CEO Adena Friedman announced. The decision was made considering the shifting business and regulatory environment in the U.S. Despite the pause, Nasdaq continues to build and deliver technology capabilities that position it as a leading digital asset software solutions provider to the global industry. https://www.marketscreener.com/news/dnb-halts-plans-for-cryptocurrency-fund-ce7d58d8dc8bf125 - Norwegian bank DNB has put its plans for a new fund investing in the cryptocurrency market on hold. The fund was originally set to launch this Friday but has now been cancelled. Eivind Aukrust, Head of Index Management at DNB, stated that the decision was due to an overall assessment, as communicated in an email to BankShift. It remains unclear when or if the fund will be launched in the future. Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 8 Notes: The narrative is recent, with the earliest known publication date being September 27, 2025. The report is based on a press release, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were found. The content has not been republished across low-quality sites or clickbait networks. No earlier versions show different figures, dates, or quotes. The article includes updated data but does not recycle older material. Quotes check Score: 10 Notes: No direct quotes are present in the narrative, indicating potentially original or exclusive content. Source reliability Score: 4 Notes: The narrative originates from bitcoin-faq.net, a site that appears to be a personal blog or niche news outlet. This raises concerns about the reliability and credibility of the information presented. The site does not have a verifiable public presence or legitimate website, which could indicate potential fabrication. Plausability check Score: 7 Notes: The claims about DNB's withdrawal from the European stablecoin project and the postponement of its cryptocurrency investment fund are plausible and align with other reports from reputable sources. However, the lack of supporting detail from any other reputable outlet and the unusual tone and phrasing of the narrative raise concerns. The language and tone feel inconsistent with typical corporate or official language, which could be a distraction tactic. Overall assessment Veredict (FAIL, OPEN, PASS): FAIL Confidence (LOW, MEDIUM, HIGH): MEDIUM Summary: The narrative presents plausible claims but originates from a questionable source with low reliability. The lack of supporting detail from reputable outlets and the unusual tone further diminish its credibility. Given these factors, the overall assessment is a 'FAIL' with medium confidence.

Renaissance Capital warns that recent capital requirement increases for Nigeria’s Pension Fund Administrators and Custodians could impede industry growth, prompting calls for a more risk-focused approach amid ongoing consolidation efforts.Renaissance Capital Africa has raised concerns over the recent directive from the National Pension Commission (PenCon) to increase the minimum capital requirements for Nigeria’s Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs). While the policy aims to bolster the sector’s financial stability, operational resilience, and long-term sustainability, the firm warns that it might unintentionally hinder growth among PFAs by setting capital thresholds that do not fully align with their actual risk profiles. On 26 September 2025, PenCon revised its capital framework, mandating that PFAs managing assets below N500 billion maintain a minimum capital of N20 billion. For PFAs with assets exceeding N500 billion, the requirement is now N20 billion plus 1% of the amount above N500 billion. PFCs are now required to hold N25 billion plus 0.1% of Assets Under Custody (AUC). These updated rules, which are based on Sections 60(1)(b), 62(b), and 115(1) of the Pension Reform Act (PRA) 2014, are intended to bring Nigeria’s pension regulatory standards more in line with international best practices. They take effect immediately for new licenses, while existing operators are given until 31 December 2026 to comply. Renaissance Capital acknowledges the rationale behind this move, especially given that the AUM of the pension industry has grown significantly—advancing at a compound annual rate of approximately 16% since the 2021 recapitalization that raised PFAs' capital from N2 billion to N5 billion. Much of this expansion stems from strong investment performance and the devaluation of the Naira in 2023 and 2024, which increased asset valuations. Additionally, recent regulatory changes allowing PFAs to diversify into higher-risk investments—such as securities lending, repos, infrastructure, and private equity—have amplified operational and counterparty risks. Consequently, higher capital buffers are seen as necessary safeguards to mitigate these risks. However, Renaissance Capital cautions that the structure of the new requirements—particularly the tiered approach based on asset size—may not accurately reflect the operational risk profiles of large PFAs. Since these firms typically earn a flat 1% fee on AUM and do not directly bear market risk, forcing them to allocate profits into capital reserves could be inefficient. Moreover, the exclusion of statutory reserves from qualifying capital might encourage profit retention rather than capitalization, leading to potential over-capitalization. The firm advocates for a fixed capital requirement model that emphasizes operational risk exposure rather than size-based tiers. They warn that the current tiering incentivizes smaller or larger PFAs alike to limit growth and could distort competitive dynamics within the industry. The anticipated outcome of these new thresholds includes considerable industry consolidation. Renaissance estimates that PFAs will need approximately N275.7 billion additional capital to meet the new standards, with larger firms primarily leveraging group resources to comply. Smaller PFAs are likely to face difficulties, potentially accelerating mergers and acquisitions—a pattern already observed in the 2021 recapitalization cycle, which saw firms like Tangerine Pensions expand through acquisitions and GTBank entering the market by taking over Investment One Pension Managers. Currently, the number of PFAs has decreased from 22 to around 17, following Leadway Pensure's acquisition of PAL Pensions. Going forward, further consolidation could solidify a “Big Five” dominance by firms such as Stanbic IBTC, Access ARM, Leadway-PAL, Premium, and NPF Pensions. For PFCs, the shortfall resulting from the new capital requirements is projected at approximately N28.9 billion. Major players such as First Pension Custodian, Zenith Pensions Custodian, and UBA Pensions Custodian will need to raise N6.4 billion, N8.2 billion, and N14.3 billion respectively. Their affiliations with large banking groups are expected to facilitate these capital increases. Nonetheless, these reforms may influence dividend payout strategies, especially among entities within tier-one banking groups, prompting a focus on profit retention to meet the new capital standards. While group-level dividends might remain relatively unaffected, internal capital allocations are likely to be adjusted in the short term. In sum, PenCon’s push for increased capital adequacy is a vital step toward safeguarding contributor assets and enhancing industry resilience. Nonetheless, striking the right balance between sufficient capital buffers and fostering sector growth remains delicate. It is crucial for regulators and industry stakeholders to monitor how these reforms evolve, ensuring that the restructuring leads to a stable, competitive, and innovative pension industry without discouraging expansion or market vitality. Source: Noah Wire ServicesVerification / Sources https://nairametrics.com/2025/10/03/pencom-n20-billion-recapitalisation-may-discourage-pfas-pfcs-growth-renaissance-capital/ - Please view link - unable to able to access data https://nairametrics.com/2025/09/27/pencom-raises-capital-requirement-for-pfas-to-n20-billion/ - On 27 September 2025, the National Pension Commission (PenCom) announced a significant revision to the capital requirements for Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs). The minimum capital for PFAs was increased tenfold, from N2 billion to N20 billion, while PFCs were required to raise their capital from N2 billion to N25 billion. This move aims to strengthen financial stability and operational resilience within Nigeria's pension industry. The new capital requirements are aligned with global best practices and are set to take effect immediately for new licenses, with existing operators given until 31 December 2026 to comply. PenCom emphasized that the review was conducted in line with Sections 60(1)(b), 62(b), and 115(1) of the Pension Reform Act (PRA) 2014, aiming to support the long-term viability of pension operators and ensure the sustainability of the Contributory Pension Scheme (CPS). https://www.thecable.ng/pencom-raises-capital-base-for-pfas-to-n20bn-pfcs-to-n25bn/ - On 27 September 2025, the National Pension Commission (PenCom) announced an increase in the minimum capital requirements for Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs). PFAs are now required to maintain a capital base of N20 billion, while PFCs must hold N25 billion. This decision aligns the capital requirements with the assets under management (AUM) and assets under custody (AUC) of the PFAs and PFCs, respectively. The new capital requirements are set to take effect immediately for new licenses, with existing operators given until 31 December 2026 to comply. PenCom stated that the review was conducted in line with global best practices to ensure that capital is proportionate to the risk exposure of the Pension Fund Operators. https://guardian.ng/business-services/pencom-releases-new-capital-requirement-for-pfas-pfc/ - The National Pension Commission (PenCom) has introduced a new capital regime for Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to strengthen financial stability and safeguard the long-term sustainability of Nigeria’s pension industry. Under the revised structure, PFAs managing assets above N500 billion must hold a minimum capital of N20 billion, plus one per cent of funds exceeding that threshold. Those with assets below N500 billion are required to maintain a flat N20 billion. The new capital requirements are set to take effect immediately for new licenses, with existing operators given until 31 December 2026 to comply. PenCom emphasized that the measure was necessary to protect operators against macroeconomic shocks, enhance service delivery, and safeguard contributors’ savings. https://independent.ng/pencom-sets-new-capital-base-for-pfas-pfcs-at-n20bn-exercise-ends-dec-2026/ - The National Pension Commission (PenCom) has mandated Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to increase their capital base to N20 billion and N25 billion, respectively, by December 2026. This directive aims to strengthen the financial stability and operational resilience of Nigeria's pension industry. The new capital requirements are set to take effect immediately for new licenses, with existing operators given until 31 December 2026 to comply. PenCom emphasized that the review was conducted in line with global best practices to ensure that capital is proportionate to the risk exposure of the Pension Fund Operators. https://www.ecofinagency.com/news-finances/2909-49102-nigeria-orders-pension-fund-operators-to-recapitalize-by-december-2026 - Nigeria’s National Pension Commission (PenCom) announced on 26 September 2025 that it will require pension fund administrators and custodians to recapitalize by the end of 2026. The regulator increased the minimum capital for PFAs to N20 billion from N5 billion and for PFCs to N25 billion from N2 billion. The recapitalization must be completed by 31 December 2026, with biennial compliance checks and a 90-day deadline to cover any shortfall. PenCom stated that the reform is designed to enhance financial stability, ensure the long-term viability of operators, and align the system with international standards where capital requirements reflect risk exposure. https://independent.ng/pfa-with-over-n500bn-aum-to-raise-capital-to-n25bn/ - The National Pension Commission (PenCom) has mandated Pension Fund Administrators (PFAs) with over N500 billion in Assets under Management (AUM) to increase their capital base to N25 billion from the current N5 billion. This directive is part of PenCom's efforts to strengthen the financial stability and operational resilience of Nigeria's pension industry. The new capital requirements are set to take effect immediately for new licenses, with existing operators given until 31 December 2026 to comply. PenCom emphasized that the review was conducted in line with global best practices to ensure that capital is proportionate to the risk exposure of the Pension Fund Operators. Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 10 Notes: ✅ The narrative is current, published on 3 October 2025, and addresses recent developments in Nigeria's pension industry, including PenCom's directive from 26 September 2025. No evidence of recycled or outdated content was found. 🕰️ Quotes check Score: 10 Notes: ✅ No direct quotes were identified in the provided text, suggesting original or exclusive content. 🕰️ Source reliability Score: 8 Notes: ⚠️ The narrative originates from Nairametrics, a Nigerian financial news outlet. While it is a known source, its reputation and editorial standards are not as established as those of global media organisations. This warrants cautious consideration. ⚠️ Plausability check Score: 9 Notes: ✅ The claims align with recent regulatory changes by PenCom, as reported by other reputable sources. The analysis by Renaissance Capital appears consistent with the context of Nigeria's pension industry reforms. However, the potential impact on PFAs and PFCs' growth is a matter of professional opinion and may vary. ⚠️ Overall assessment Veredict (FAIL, OPEN, PASS): OPEN Confidence (LOW, MEDIUM, HIGH): MEDIUM Summary: ⚠️ The narrative is current and addresses recent developments in Nigeria's pension industry. However, it originates from Nairametrics, a source with a less established reputation compared to global media organisations, which introduces some uncertainty. Additionally, the analysis by Renaissance Capital is an opinion that may vary, and the potential impact on PFAs and PFCs' growth is not definitively established. ⚠️

The ECB advances its digital euro project by awarding a major contract for offline payment systems and developing AI-driven fraud detection, aiming to enhance privacy, resilience, and security in digital transactions.The European Central Bank (ECB) has wrapped up its framework agreements covering five key parts of its digital euro project—an important move forward, I’d say. One thing that stands out is the contract they awarded for the offline payment system of the digital euro. This went to a consortium led by Giesecke+Devrient (G+D) and included partners like Nexi and Capgemini. Now, this offline feature is seen by the ECB as pretty important because it aims to mimic the privacy and resilience features you'd expect from cash. Basically, it’s about enabling transactions without needing an internet connection or involving third parties like banks or payment providers, which is pretty revolutionary. The offline payment option enables transactions to be settled directly between devices—whether smartphones, cards, or other compatible hardware—without relying on an active internet connection or even power. According to the ECB, this method does a couple of things: it boosts privacy by preventing third parties from recording transaction details, and it also makes the system more resilient—so, even if connectivity drops, payments can still go through. It’s designed to make sure the digital euro is accessible across the entire euro area, working alongside physical cash but offering more digital flexibility. So, the framework they’ve set up involves designing, developing, and partly managing the offline system, and then integrating it into the bigger digital euro setup via the Digital Euro Service Platform (DESP). G+D brings decades of expertise in security tech and currency systems, Nexi is known for innovative payment solutions and point-of-sale tech, and Capgemini is a major player in tech consulting and digital transformation. Dr. Wolfram Seidemann, CEO of G+D Currency Technology, emphasized how they’re committed to delivering a secure and innovative solution that keeps cash-like privacy and trust. Renato Martini from Nexi also pointed out the importance of building resilient payment systems that work even when offline—something that quite a few people probably find reassuring. This all ties into the ECB’s larger plan to boost the eurozone’s financial independence while introducing a digital payment option that’s modern, inclusive, and trustworthy. It’s part of a broader trend among central banks around the world to develop Central Bank Digital Currencies (CBDCs) that preserve the core features of cash, but in a digital format—pretty fascinating, isn’t it? And it’s not just the offline payments that the ECB is working on. They’re also making strides in other areas of their digital euro infrastructure. For example, they’ve teamed up with Feedzai, a Portuguese AI startup, along with PwC, to develop a sophisticated AI system designed to detect fraud risks. This system will analyze behavioral patterns to spot and assess potential fraud in digital euro transactions—helping payment service providers make better decisions about approval. The contract for this fraud detection tech is valued at up to €237.3 million over four years, which shows just how seriously the ECB takes security and fraud prevention in this new digital currency setup. All in all, these contracts paint a picture of a layered, robust approach by the ECB. While the offline payment system ensures privacy and usability even under less-than-ideal conditions, the AI-based fraud detection adds a crucial security layer for an increasingly digital financial world. The whole strategy seems to be about building trust and acceptance, making sure that once the digital euro is rolled out, it’s both safe and user-friendly. Honestly, it’s pretty impressive, right? I find it surprising that they’re covering all these bases so thoroughly, but that’s likely the key to success here. Source: Noah Wire ServicesVerification / Sources https://fintechnews.ch/payments/ecb-digital-euro-offline-payments/78524/ - Please view link - unable to able to access data https://www.capgemini.com/news/press-releases/ecb-concludes-a-framework-agreement-with-gieseckedevrient-and-its-partners-nexi-and-capgemini-to-deliver-offline-solution-for-the-digital-euro/ - Capgemini, in partnership with Giesecke+Devrient (G+D) and Nexi, has been selected by the European Central Bank (ECB) to develop an offline payment solution for the digital euro. This solution aims to enable transactions without internet connectivity, ensuring privacy and resilience akin to cash. The collaboration combines G+D's security technology expertise, Nexi's payment technology innovation, and Capgemini's leadership in technology consulting and digital transformation. (capgemini.com) https://www.ecb.europa.eu/press/intro/news/html/ecb.mipnews251002.en.html - The European Central Bank (ECB) has selected providers for five digital euro components and related services. Giesecke+Devrient, in partnership with Nexi and Capgemini, has been chosen to develop the offline solution. This initiative is part of the ECB's efforts to advance the digital euro project, aiming to enhance the euro zone's financial autonomy and provide citizens with a universally accessible means of payment. (ecb.europa.eu) https://www.reuters.com/business/finance/ecb-picks-ai-startup-prevent-digital-euro-frauds-2025-10-02/ - The European Central Bank (ECB) has selected Portuguese AI startup Feedzai, in partnership with PwC, to develop an AI system for assessing fraud risk in digital euro transactions. This system will analyse deviations from users' typical behaviour to help payment service providers decide whether to approve transactions. The contract is valued at up to €237.3 million over four years. (reuters.com) https://www.pressebox.de/inaktiv/giesecke-devrient-gmbh/ezb-schliet-rahmenvereinbarung-mit-giesecke-devrient-sowie-den-partnern-nexi-und-capgemini-zur-bereitstellung-einer-offline-lsung-fr-den-digitalen-euro/boxid/1268153 - Giesecke+Devrient (G+D), in partnership with Nexi and Capgemini, has been awarded a framework agreement by the European Central Bank (ECB) to develop an offline solution for the digital euro. This solution aims to enable transactions without internet connectivity, ensuring privacy and resilience similar to cash. The collaboration leverages G+D's security technology expertise, Nexi's payment technology innovation, and Capgemini's leadership in technology consulting and digital transformation. (pressebox.de) https://finanza.repubblica.it/News/2025/10/02/bce_accordo_con_giesecke%2Bdevrient_nexi_e_capgemini_per_soluzione_offline_per_euro_digitale-255/ - The European Central Bank (ECB) has concluded framework agreements for five digital euro components. Giesecke+Devrient (G+D), in partnership with Nexi and Capgemini, has been selected to provide an offline payment solution. This solution aims to enable offline payments without third-party involvement, ensuring privacy and resilience akin to cash. (finanza.repubblica.it) https://www.mexc.com/en-TH/news/ecb-taps-ai-startup-to-combat-fraud-in-digital-euro-rollout/117199 - The European Central Bank (ECB) has selected Portuguese AI startup Feedzai, in partnership with PwC, to develop an AI system for assessing fraud risk in digital euro transactions. This system will analyse deviations from users' typical behaviour to help payment service providers decide whether to approve transactions. The contract is valued at up to €237.3 million over four years. (mexc.com) Noah Fact Check Pro The draft above was created using the information available at the time the story first emerged. We've since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation. Freshness check Score: 10 Notes: The narrative is based on a press release from Capgemini dated October 2, 2025, announcing the conclusion of a framework agreement with the European Central Bank (ECB) for the development of an offline solution for the digital euro. (capgemini.com) This indicates high freshness, as the information is current and directly from the involved parties. Quotes check Score: 10 Notes: The narrative includes direct quotes from Dr. Wolfram Seidemann, CEO of Giesecke+Devrient, and Renato Martini, Digital Banking Solutions Director of Nexi. These quotes are present in the Capgemini press release dated October 2, 2025. (capgemini.com) No earlier usage of these quotes was found, suggesting they are original to this release. Source reliability Score: 10 Notes: The narrative originates from Capgemini, a reputable global business and technology transformation partner. The press release is accessible on Capgemini's official website, indicating a reliable source. (capgemini.com) Plausability check Score: 10 Notes: The claims about the ECB's selection of Giesecke+Devrient, Nexi, and Capgemini for the digital euro offline solution are corroborated by multiple reputable sources, including the ECB's official announcement and Reuters. (ecb.europa.eu) The narrative's language and tone are consistent with official communications, and the details align with known developments in the digital euro project. Overall assessment Veredict (FAIL, OPEN, PASS): PASS Confidence (LOW, MEDIUM, HIGH): HIGH Summary: The narrative is based on a recent press release from Capgemini, dated October 2, 2025, announcing the conclusion of a framework agreement with the ECB for the development of an offline solution for the digital euro. The quotes from Dr. Wolfram Seidemann and Renato Martini are original to this release. The source is reliable, and the claims are corroborated by multiple reputable outlets. The language and tone are consistent with official communications, and the details align with known developments in the digital euro project. Therefore, the narrative passes the fact-check with high confidence.