OVHcloud has been chosen to provide a European sovereign cloud infrastructure for the European Central Bank’s (ECB) digital euro project, as part of a group of cloud service providers.
With digital technologies redefining modern economies, Europe faces a crucial decision: accept strategic dependence or take control of its own future. The digital euro, anchored in a sovereign European cloud, illustrates Europe’s commitment to safeguarding its financial sovereignty. This project, which constitutes a new milestone in OVHcloud’s strategy for the development of sovereign infrastructures throughout Europe, contributes to effectively strengthening digital autonomy by offering security and transparency to citizens.
Provide a digital payment method for transactions
The digital euro project, promoted by the European Central Bank, aims to provide a digital payment method for electronic transactions in stores, online or between individuals. From a technical point of view, the architecture of the digital euro will be based on the SEPI (Secure Exchange of Payment Information) system and, following the tender process of the European Central Bank, Senacor Technologies has been selected to develop this key component.
The SEPI System is designed to enable the secure exchange of payment information between organizations that will participate in the future digital euro system. In this framework, OVHcloud will provide a sovereign cloud infrastructure operated entirely within the European Union, thus helping to support the technical work of the consortium in accordance with the requirements of the ECB.
«The fact of having been selected, through our partner Senacor, to contribute to the deployment of the digital euro demonstrates the trust placed in our experience. As a European cloud leader, we provide the European Central Bank with secure, compliant and innovative cloud services, managed from certified data centers in Europe,” says Sylvie Houliere Mayca, Head of France-Middle East-Africa-BeLux at OVHcloud.
«The digital euro is a key strategic project for the European financial market. The needs for a secure, scalable and sovereign infrastructure are therefore very demanding. With its European cloud experience and a clear focus on data and technology sovereignty, OVHcloud is an excellent option,” explains Dr. Ruben Debeerst, Partner Principal Consultant at Senacor Technologies.
The digital euro would be a digital form of cash
Contributing to the technical infrastructure of the digital euro is a key component in OVHcloud’s work to support Europe’s digital future in an ever-changing geopolitical environment. OVHcloud is committed to supporting the digital autonomy of the public sector and sets new standards, together with its partners, for the digital transformation of sectors that require secure, transparent and sovereign services in Europe.
The digital euro would be a means of electronic payment freely available to everyone. Like cash today, it could be used anywhere in the eurozone and would offer security and privacy. In an increasingly digitalized society, the digital euro would be a new advance for our single currency.
There is currently no European digital payment option covering the entire euro area, and 13 of the 20 countries rely on international schemes for card payments. The digital euro would be a European electronic means of payment accessible and accepted in all euro area countries.
The digital euro project, promoted by the ECB, aims to provide a digital payment method for electronic transactions in stores, online or between individuals
The digital euro would offer individuals and companies in the euro area a payment solution with the highest levels of privacy. The ECB and the Eurosystem would not be able to identify who you are or what you buy from the payment data we obtain.
It is estimated that the implementation of the digital euro would cost banks between 4 and 5.8 billion euros. This figure is significantly lower than previous industry estimates, as it reflects the banks’ ability to share infrastructure and take advantage of synergies.
