Bank looking to use Digital Markets Act to enable people to hold CBDC on iPhones’ ‘secure element’
The European Central Bank is looking to use the European Union’s Digital Markets Act (DMA) to enable people to hold its central bank digital currency on their iPhones.
Alessandro Giovannini – adviser to the head of the digital euro project, Evelien Witlox – tells Central Banking that Apple’s status as a “gatekeeper” under the DMA allows the European Commission to ensure that the ECB will have access to iPhones’ “secure element”.
The bank had first flagged the issue in April 2024 in a letter to
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