Recap of the Digital Euro Association Summerfest 2022

On July 14th, 2022, the DEA organized its first Summerfest joined by 50 participants – institutional members, fellows, and experts. Most of the DEA executive team and founding members gathered in Frankfurt to join the event, hosted at the Frankfurt School of Finance & Management.

Dr. Jonas Gross introducing the DEA and its sponsors to the attendees of the Summerfest

Dr. Jonas Gross, the chairman of the DEA, kicked-off the event with a welcoming address and introduction, followed by the presentation of the Summerfest sponsors Bundesdruckerei, EY and Ripple who shared about their recent activities in the fields of stablecoins and CBDCs. 

Ripple outlined their intention to create a more inclusive financial system where more people and SMEs have better access to financial services. They also presented their current CBDC efforts and private ledger solution beyond its renowned crypto currency, XRP.

Representatives from Bundesdruckerei noted that they continue to embrace their role as the state’s digital security company, building a bridge between the physical and the digital world. For them, the main focus at the Summerfest revolved around the future of payments and the emphasis on the co-existence of cash and the digital euro.

EY noted that legal and regulatory questions related to the issuance and governance of a digital euro, as laid out in MiCA, are of utmost importance. Furthermore, the results of the public consultations by the ECB is just one example of the topics that EY monitors closely.

Dr. Jan Rosam (EY), Dr. Jonas Gross (DEA) and Ramona Fazeli (Bundesdruckerei)

Our active and supporting members contributed tremendously to the success of this iteration of the Summerfest. The event gave our members the  unique opportunity to have exchanges on the recent developments around CBDCs, stablecoins and other industry news. As a practical example of how digital money can be used today, Ammer Cards offered each attendee a DEA bank card, pre-loaded with digital euro coins to use with their smartphone wallets.

The DEA is thrilled about having hosted its first of many Summerfest, especially since fostering collaborations with our community across the world is one of our key objectives. As Ramona Fazeli (Bundesdruckerei) put it: ‘It was great to be able to exchange ideas with so many DEA members at the Summerfest and discover that we all have a common goal, to foster and build relationships, exchange ideas, and work on an innovative, inclusive future’.

Members of the DEA executive team and founding members

About the Author

Lola Peïs joined the DEA as an associate in June 2022. She is curious about the development of blockchain and cryptocurrencies in general and their added value for policy-making on a regional scale.

Feel free to join her on LinkedIn